Socar says it may look else­where

Kathimerini English - - Focus - CHRYSSA LIAGGOU

Az­eri state en­er­gy­giant Socar is con­tem­plat­ing the pos­si­bil­ity that its deal to ac­quire a con­trol­ling stake in the Greek nat­u­ral gas trans­mis­sion net­work op­er­a­tor (DESFA) may fall through fol­low­ing the in­ter­ven­tion of the Euro­pean Com­mis­sion this week.

Socar Chief Ex­ec­u­tive Of­fi­cer Rov­nag Ab­dul­layev stated yes­ter­day that “the process is more com­pli­cated when it come to Euro­pean Union mem­ber states. With Greece be­ing an EU mem­ber, we also have to go through this pro­ce­dure. The rel­e­vant work is un­der way and Greece needs this par­tic­u­lar sale. Oth­er­wise, there are many other places for in­vest­ments and more prof­itable projects, but Greece is in­ter­ested in this,” said the Socar head.

This is the first time that the Az­eri side has ex­pressed any doubt about the com­ple­tion of the ac­qui­si­tion which has re­mained pend­ing for 17 months. It is also the first time it has dis­tanced it­self from the han­dling and de­vel­op­ment of the is­sue to date.

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