DESFA bids of 400 mln or over

See­ing strong in­ter­na­tional in­ter­est, Stathakis says of­fers must ex­ceed that of So­car in the first ten­der

Kathimerini English - - Focus - BY CHRYSSA LIAGGOU

En­ergy Min­is­ter Gior­gos Stathakis has given can­di­date buy­ers of gas grid op­er­a­tor DESFA a 400-mil­lioneuro bar to clear ahead of next Mon­day’s sub­mis­sion of non-bind­ing bids.

The min­is­ter yes­ter­day vis­ited DESFA’s head­quar­ters to learn about the com­pany’s fi­nan­cial state and told em­ploy­ees there were three con­di­tions that would se­cure the smooth de­vel­op­ment of the cur­rent process for the con­ces­sion of a 66 per­cent stake to a strate­gic in­vestor.

Stathakis specif­i­cally re­ferred to re­spect for the com­pet­i­tive char­ac­ter of the ten­der process by all par­ties in­volved, and se­cur­ing a fair price that will re­flect “the per­fect fi­nan­cial con­di­tion DESFA is in.”

“The pre­vi­ous ten­der has al­ready set a start­ing point,” said the min­is­ter, send­ing a mes­sage to po­ten­tial in­vestors that bids should not be any lower than the 400 mil­lion eu­ros Az­eri com­pany So­car of­fered for the same stake in the first ten­der. Hel­lenic Petroleum, which holds a 35 per­cent stake in the gas grid op­er­a­tor, has made sim­i­lar state­ments.

Stathakis also set as a con­di­tion for the ten­der’s smooth progress the main­te­nance of the com­pany’s pub­lic prop­erty so as to en­sure that its op­er­a­tion will al­ways be com­pat­i­ble with what the state and na­tional in- ter­ests dic­tate. He fur­ther ex­pressed his ab­so­lute con­fi­dence in the Reg­u­la­tory Author­ity for En­ergy (RAE), which, he said, will safe­guard the op­er­a­tion of the com­pany in a prop­erly reg­u­lated in­sti­tu­tional en­vi­ron­ment.

The min­is­ter’s in­ter­ven­tion points to a strong com­pe­ti­tion and the in­ten­tion of some in­vestors to bid high. After all, a few days ago the chief ex­ec­u­tive of Italy’s Snam, Marco Alvera, told an­a­lysts he ex- 1.1829 pected the com­pe­ti­tion for DESFA’s stake to be in­tense, given Greece’s strate­gic po­si­tion.

That is also an in­cen­tive for two com­pa­nies with stakes in the Trans Adri­atic Pipe­line (TAP), Bel­gium’s Fluxys and Spain’s Ena­gas, which are also in­ter­ested in DESFA, while Dutch firm Ga­sunie and French op­er­a­tor GRTgaz may also en­ter. Mon­day will also re­veal whether the in­ter­est from the US will lead to a con­sor­tium with a Euro­pean com­pany.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.