Italgas to enter Greek market

Italy's biggest natural gas distribution company, Italgas, is on the verge of entering the Greek market.

Kathimerini understands that Europe's third largest gas distributor is very close to reaching an agreement with fellow Italian Eni Gas e Luce for the acquisition of the latter's portfolio in the Greek gas grid.

Eni Gas e Luce is a subsidiary of oil giant Eni and is active in electricity and gas retail in Greece through ZeniTH (formerly known as Thessaloniki and Thessaly Gas Corporation). It also has a 49 percent holding in Thessaloniki gas distributor EDA Thess, which is 51 percent owned by Public Gas Corporation (DEPA).

Italgas' interest in EDA Thess is associated with its strategic planning for the full control of gas transmission networks in Greece; this opportunity has arisen with the expected concession to a strategic investor of the state's holding in...