DESFA

Greek authorities have started assessing the technical aspects of the two bids for a stake in natural gas network operator DESFA, while the financial offers will be opened on March 9.

All signs point to the price for 66 percent of DESFA topping 400 million euros, although that will also depend on the company's cash reserves when the transaction is completed.

Greece has received two binding bids for a 66 percent stake in its gas grid operator DESFA, the Greek privatization agency (TAIPED) said on Friday, a sale that is a key condition of the country's international bailout.

The business plan of state sell-off fund TAIPED, as approved by the inner cabinet, provides for the sale of the state's energy holdings in Public Power Corporation, Hellenic Petroleum and Public Gas Corporation, along with the concession of minority stakes in the Athens and Thessaloniki water companies (EYDAP and EYATH).

Greece's privatization agency (TAIPED) will push back to February the deadline for the submission of binding offers for a 66 percent stake in the country's natural gas grid operator DESFA, a source close to the process said on Monday.

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 deadline for the submission of binding offers for the 66 percent controlling stake in gas grid operator DESFA has been put off from December 22 to January 2018.

State sell-off fund TAIPED accepted a request to that effect submitted by candidate investors last week, as they want more time to prepare their offers.

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.

Greece aims to get binding offers from investors shortlisted for a 66 percent stake in state-controlled natural gas grid DESFA by the end of the year, two sources close to the process said on Wednesday.

State sell-off fund TAIPED on Friday short-listed two bidders for the second round of the tender for 66 percent of gas transmission network operator DESFA.

They are Regasificadora del Noroeste and the consortium of Snam, Enagas Internacional, Fluxys and NV Nederlandse Gasunie.

The executive board of Greece's privatization agency, the Hellenic Republic Asset Development Fund (TAIPED), is set to approve a short list of candidates for the acquisition of a 66 percent stake in natural gas transmission system operator DESFA.