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Greece

Greece Sells Gas Grid DESFA to Snam-Led Consortium

Greece's privatizations board has accepted an improved financial offer from the consortium of Snam SpA, Enagas Internacional SLU and Fluxys SA, of €535 million ($659 million) for the acquisition of a 66-percent stake in Hellenic Gas Transmission System Operator...

DESFA Privatisation Deadline Extended to February 2018

Greece’s privatisation agency (HRADF) decided to push back the deadline for offers connected with the Hellenic Gas Transmission System Operator (DESFA), a 66% stake of which is about to be privately owned. Binding offers were expected to be submitted by...

Stathakis: Gov't Wants to Close All Pending Issues at Next Eurogroup; Plan for New DESFA Tender

The government aims to close all pending issues in Greece’s second program review at the next Eurogroup, Energy Minister Giorgos Stathakis said in an interview with newspaper Alithines Edeseis on Saturday, adding that he is in favor of a...

Greece Cancels DESFA Stake Sale to Azerbaijan's Socar

The Greek government on Wednesday cancelled the sale of a 66 percent stake of the Hellenic Gas Transmission System Operator (DESFA) to Azerbaijan's Socar. The energy ministry announced that the Azeri company's proposal to reduce the price of the sale...

DESFA Sale Puts Strain in Greece-Azerbaijan Business Relations

The apparent failure of the agreement between Azerbaijan’s State Oil Company (SOCAR) to buy 66% of Greece's natural gas distribution network (DESFA) is putting a strain between Athens and the Azeri government. According to a real.gr report, Azeri authorities are dissatisfied...

SOCAR Acquires Slice of Greek DESFA

Socar (the state oil company of Azerbaijan) has acquired a 66% share in the Greek natural gas transmission network operator (DESFA). This agreement is significant in terms of gas supplies to Europe from Azerbaijan. The President of Socar, Rovnag Abdullayev will arrive...

SOCAR Ups Bid For DESFA

With Greece's privatization program staggered by the failure to get even a single offer for the natural gas company DEPA, the lone bidder for the distribution branch, DESFA - Azerbaijian's state energy company SOCAR is said to hiked its...

Russia's Sintez Not To Bid For Greece's DEPA, May Bid For DESFA

Russia's Sintez Group will not bid for Greek gas company DEPA, but may bid for its gas-network operator, DESFA, Sintez said Monday. Sintez was one of two Russian companies, alongside state gas giant OAO Gazprom (GAZP.RS) that showed initial interest...

Gazprom Among Nonbinding Bidders for Greece΄s DEPA/Desfa

Greece΄s privatization agency said Tuesday that five companies or consortiums have made nonbinding offers for Greek state-owned natural gas company DEPA/Desfa, which is being sold as part of the country΄s privatization program, Dow Jones reported. The privatization agency, the Hellenic...

Trans-Adriatic Natural Gas Pipeline Nearly Complete

Katerina Papalexandri, the manager of the Greek section of the new pipeline, announced on Monday that the construction of the Trans-Adriatic Pipeline is nearly complete. Speaking with the state-run AMNA news agency, Papalexandri said that the excavations to lay the pipe...

Expansion of Balkans' Only Liquefied Natural Gas Terminal in Attica

Greece officially opened the third tank for Liquefied Natural Gas (LNG) on the small island of Revithousa, off of the coast of Athens, on Thursday. George Stathakis, Greek Environment and Energy Minister, spoke at the opening ceremony for the project, saying it was...

Greece's Gas Grid Operator Sold to Snam-Led Consortium

A consortium led by Italy's Snam will take a majority stake in Greek gas grid operator DESFA under a 535 million euro ($623 million) deal signed on Friday, the country's HRADF privatization agency said. A consortium of Snam, Spain's Enagas...

EU: Greece Needs to Close Pending Prerequisites before Disbursement of Loan Tranche

Greece needs to complete three important prerequisites before the EU disburses the next loan tranche of €5.7 billion euros, a European official said, according a Kathimerini report. The loan tranche will be disbursed upon the condition that all requirements of...

Atlantic Council Report: Russia Uses Greece as a Trojan Horse

Greece is one of Russia's 'Trojan Horses' to enter and influence Europe and its policies, says a new report from the Atlantic Council’s Eurasia Center. The report says that Russia continues to seek a foothold in Southern Europe to undermine...

Final Bids for Greek Gas Grid Sale Expected by Year's End

The Greek government wants to get binding offers from investors shortlisted for a 66% stake in state-controlled natural gas grid DESFA by the end of the year, two sources close to the process said on Wednesday. Under the terms of...