Gas grid deal with Azeri SOCAR pro­gress­ing

Kathimerini English - - Front Page -

Azer­bai­jan’s state-owned oil com­pany SOCAR had con­firmed its in­ter­est in ac­quir­ing a stake in Greek gas grid op­er­a­tor DESFA, with a deal pos­si­ble by the end of the year, Greece’s pri­va­ti­za­tion agency said yesterday. The po­ten­tial deal, which has been ne­go­ti­ated since 2013, would in­volve SOCAR buy­ing a 66 per­cent stake in DESFA for around 400 mil­lion eu­ros from the Greek state and Hel­lenic Petroleum. The Euro­pean Com­mis­sion has ex­pressed se­ri­ous con­cerns about the deal and has been re­view­ing it. A Greek pri­va­ti­za­tion of­fi­cial has said that Athens was ex­am­in­ing an op­tion un­der which SOCAR would buy the stake and then divest at least 17 per­cent ei­ther to the Greek state or a third en­tity to ad­dress the EU’s con­cerns. Greece’s pri­va­ti­za­tion agency TAIPED and Hel­lenic Petroleum met SOCAR of­fi­cials yesterday and all

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