Two bidders qualify for DESFA stake purchase

Two investment schemes have qualified to proceed to the next stage of a tender process to acquire Greek gas grid operator DESFA, the country’s privatization agency said. 

As reported last month, six companies were in the running to acquire the 66 percent stake in DESFA that owns and operates Greek’s natural gas network and the country’s only LNG terminal on the island of Revithoussa.

According to a filing by the Hellenic Republic Asset Development Fund (HRADF), Regasificadora del Noroeste and the consortium composed of Italy’s Snam, Spain’s Enagás Internacional, Fluxys of Belgium and the Dutch Gasunie have been picked as prequalified investment schemes.

The 66 percent stake on sale is owned by HRADF (31 percent) and Hellenic Petroleum (35 percent).

Last year, the stake sale to Azerbaijan’s Socar fell through as Greek legislation increased DESFA’s gas tariffs by a lower than expected margin.

LNG World News Staff