Investors from third countries can take part in DESFA tender

Baku, Azerbaijan, May 2 By Leman Zeynalova – Trend: Greek Ministry of Energy and Environment has dismissed the information that only European companies can take part in the new tender for privatization of the company’s DESFA natural gas grid operator. “In the new tender will be able to take part investors from third countries, but in partnership with the European Gas Transmission System Operator,” a source in the ministry told Trend May 2. In March 2017, the Board of Directors of Greece’s Hellenic Republic Asset Development Fund (HRADF) decided to proceed with a new tender for DESFA. Earlier, Azerbaijan’s state oil company SOCAR won a tender in 2013 on the purchase of a 66-percent stake in DESFA for 400 million euros. SOCAR intended to obtain a 31-percent stake from the Greek government and to buy a 35-percent stake in Hellenic Petroleum. It was expected that the deal will be closed only after the purchase of at least a 17-percent stake out of SOCAR’s 66-percent by Italy’s Snam. SOCAR, Snam and Greek government have been holding intensive talks against the background of changes in legislation that affected DESFA’s financial position and market value. However, the parties were unable to reach an understanding and consequently, the deal was terminated Nov. 30, 2016. --- Follow the author on Twitter: @Lyaman_Zeyn