DEPA Commercial

Author: Vitalie Platon

Moldova's domestic gas supplier Energocom said it will supply its consumers with test volumes of US-origin liquefied natural gas (LNG) for the first time on Monday and Tuesday. Moldova relied almost exclusively on Russian gas under a deal with state-controlled Gazprom but stepped up diversification efforts following Moscow's full-scale invasion of neighbouring Ukraine two years ago.

Greek gas supplier DEPA Commercial has filed for arbitration to seek a price revision on its gas supply contract with Gazprom, DEPA CEO Constantinos Xifaras has said.

Helleniq Energy would consider either acquiring full control of the country's biggest gas supplier DEPA Commercial or fully disinvest from the company, its top manager said.

The positive prospects of the Athens Stock Exchange (ASE) will provide a solution to the suspended privatization of DEPA Commercial, a subsidiary of Public Gas Corporation (DEPA).

The plan is to get HELLENiQ Energy (the former ELPE) to sell its 35% stake in DEPA Commercial to the state, which, in turn, will list the company on the ASE.

DEPA Commercial is among the winners of an auction for the supply of Moldova with natural gas.

The auction, held by Energocom, covers a significant part of natural gas supply of the Moldovan market during the summer period, with the product to be delivered in the Isaccea/Orlovka interconnection point between Romania and Hungary.

DEPA Commercial on Thursday announced its entry on the Energy Exchange of Hungary CEEGEX, a move signalling the company's international expansion and establishing its leading role in energy developments, a company announcement said.

Greece's privatization agency (TAIPED) said on Tuesday that it has shortlisted seven investors for the purchase of a majority stake in the country's dominant gas supplier, DEPA Commercial.

Greece has received nine non-binding bids for the sale of a 65 percent stake in its dominant gas supplier DEPA Commercial, its privatisation agency said on Monday.

Investors who have expressed an interest in the stake include Shell Gas, Vitol Holding, Power Globe, MET Holding and C.G. Gas Limited of Greece's Copelouzos group, the agency said in a statement.

Greece on Thursday gave investors the option of submitting their interest in a majority stake in the wholesale and retail business of its biggest gas utility electronically to facilitate the process in view of the coronavirus outbreak.

Greece is selling its 65 percent stake in DEPA Commercial in line with a post-bailout agreement with its lenders to open up the gas market.