Greece receives 2 binding bids for DESFA sale

Greece has received two binding bids for the purchase of a 66 percent stake in Greek gas grid operator DESFA, according to the country’s privatisation agency, HRADF.

Bids were submitted by a consortium consisting of Italy’s Snam, Spain’s Enagas and Belgium’s Fluxys, and a consortium of Spain’s Regasificadora del Noroeste (Reganosa), Romania’s Transgaz and the European Bank for Reconstruction and Development (EBRD).

HRADF said on Friday it would begin evaluating the bids immediately.

Under the deal, Greece’s Hellenic Petroleum is selling its 35 percent stake in DESFA while the country is divesting the rest.

DESFA owns and operates Greek’s natural gas network and the country’s only LNG terminal on the island of Revithoussa.

in 2016, the stake sale worth some 400 million euros to Azerbaijan’s Socar fell through as Greek legislation increased DESFA’s gas tariffs by a lower than expected margin.

LNG World News Staff