DEPA

Sources familiar with the privatization of natural gas network operator DESFA expect the deal for the sale of a 66 percent stake in the company to close by the end of February or early March.

The timetable for the completion of the three privatizations in the energy sector, which has just been agreed with the country's creditors, provides for the process for Hellenic Petroleum (ELPE) and Public Gas Corporation (DEPA) getting under way in March 2018 and that for the sale of 17 percent of Public Power Corporation (PPC) starting in June.

Shell's plans for disengagement from Attica Gas Corporation (EPA Attikis) are hampering the government in its negotiations with the country's creditors on the position of Public Gas Corporation (DEPA) in the natural gas retail market.

Greece's state-controlled natural gas firm DEPA signed a cooperation agreement on Thursday with natural gas company Gastrade to participate in the development of a liquefied natural gas terminal in northern Greece, DEPA said.

Greece currently has one LNG terminal on Revythousa, an islet off Athens.

The huge gap between the positions of the government and the creditors' technical staff on the issue of the Public Gas Corporation (DEPA) and its retail activity will have to be resolved at the political level, according to sources.

Greece opened expressions of interest on Friday for hiring consultants on utilizing the state shares in seven major companies, including utility Public Power Corporation and Athens International Airport.

Public Gas Corporation (DEPA) is weighing the idea of acquiring a 20 percent stake in the project of the planned liquefied natural gas (LNG) terminal off Alexandroupoli, in northern Greece, after the project received a fresh boost from the completion of the entry of GasLog (which belongs to shipowner Peter Livanos) with another 20 percent stake.

Authorities are again on high alert regarding the country's uninterrupted supply of natural gas and electricity as there is a serious risk that the Revythousa LNG station will run dry in the first five days of February.

The government is keeping all its options open as regards the future of Public Power Corporation and increasing competition in the electricity market, but it appears it has been forced to move ahead with the sale of 66 percent of the natural gas grid operator (DESFA) despite wishing otherwise.

Greece's Public Gas Corporation (DEPA) has asked its suppliers for increased quantities of liquefied natural gas in response to the growth in demand for the commodity in the local market and the reduction in the flow of gas from the country's northern borders.