Assisting Lochard Energy to Reach a 25-Year Gas Storage Agreement

Hive Legal acted as the legal adviser to Lochard Energy in its negotiation of a significant 25-year gas storage deal with Snowy Hydro Limited. The agreement will underpin the development of Lochard Energy’s Heytesbury Underground Gas Storage (HUGS) project, which will expand the capacity of the Iona Gas Storage Facility.

Hive Legal’s involvement spanned the length of the deal process – from assisting in the initial expression of interest phase, preparing the initial agreement, negotiation assistance and the provision of strategic advice on complex issues arising from the long-term nature of the deal in a rapidly changing energy market.

Hive is thrilled to have acted for Lochard in securing this agreement, which will, by enabling the delivery of the HUGS project, further increase Lochard Energy’s ability to provide critical energy storage services in the gas market.