DESFA

Athens must speed up the privatization of Greek natural gas grid operator DESFA because delays in the process are having a negative impact, the company's chief executive said on Thursday.

The privatization of DESFA is part of a drive by Greece to sell state assets, which is a significant condition of the country's bailout by the European Union and IMF.

The government is taking the privatization of gas network operator DESFA back to square one, reversing what has been agreed with Greece's creditors on the fast-track process and the immediate restart of the existing tender.

A few hours after the breakdown in talks between Athens and Azeri state company Socar concerning the acquisition of a 66 percent stake in DESFA by the latter, it became known that Greece's gas grid operator has attracted the interest of its Romanian peer Transgaz, while the interest of Belgian operator Fluxys remains unchanged. This creates expectations for a successful new tender.

Azeri state energy company Socar said on Thursday its failure to reach an agreement on buying a 66 percent stake in Greek gas grid operator DESFA would not affect its investment plans in Greece and the region.

The Greek Energy Ministry had said on Wednesday Socar's proposal to reduce the price of the 400-million-euro deal was unfeasible.

[Reuters]

The draft budget tabled on Monday in Parliament provides for major privatization projects to start fetching revenues into the state coffers from 2017, as they will not be completed before the new year.

They concern the regional airports, gas grid operator DESFA, railway service operator Trainose, the Elliniko development in southern Athens etc.

The Public Gas Corporation (DEPA) is apparently paying the price for a Greek decision to facilitate business plans that pave the way for American liquefied natural gas (LNG) to head through Greece to the Balkans and Central Europe - as in the case of the LNG terminal off Alexandroupoli - and for its own handling of the extension of the Turkish Stream pipeline.

Azerbaijan's state energy company Socar plans to hold talks with Greek officials over a deal to buy Greek natural gas pipeline operator DESFA, Socar's president said on Friday.

Prime Minister Alexis Tsipras is expected to get directly involved in the privatization of Greece's natural gas grid operator DESFA in the next few days in a bid to end the impasse in the project.

Azerbaijan's state energy company, SOCAR, plans to go ahead with a deal to buy Greek natural gas pipelines operator DESFA, but says that its price should be reduced, SOCAR's president said Sept. 5.

In 2013, SOCAR agreed to buy a 66 percent stake in the crisis-hit gas supply grid operator for 400 million euros ($446.3 million).

Azerbaijan's state energy company Socar plans to go ahead with a deal to buy Greek natural gas pipelines operator DESFA but says that its price should be reduced, Socar's president said on Monday.