Fluxys refuses to buy stake in Greece’s DESFA

Fluxys refuses to buy stake in Greece’s DESFA

Baku, Azerbaijan, March 28

By Maksim Tsurkov - Trend:

Belgian company Fluxys refused to buy a share in Greek gas transmission network operator DESFA's 66 percent controlling stake, which is to be bought by Azerbaijan's state oil company SOCAR, Greece's Ekathimerini reported March 28 citing unnamed sources.

Reportedly, Fluxys departed from talks on the issue.

"The board of the company that operates Belgium's gas system and had expressed an interest in DESFA's 17 percent stake has decided to abandon that plan," said the report. "The company is supporting the Trans Adriatic Pipeline (TAP)."

Greece's Energy Minister Panos Skourletis said in September 2015 that for the completion of the sale of the 66 percent controlling stake in DESFA to SOCAR, another 17 percent must be sold to an EU firm, with SOCAR also having a say in the selection of the new stakeholder.

Earlier, the Hellenic Republic Asset Development Fund (HRADF) said it received a formal proposal from Fluxys-Enagas and Italian company Snam to buy a 17-percent stake in DESFA.

Fluxys showed an interest in 8 percent and Enagas in 11 percent of the shares. An informal interest in DESFA has been expressed by Dutch company Gasunie.

SOCAR won a tender in December 2013 on the purchase of a 66-percent share in DESFA for 400 million euros. The European Commission started an inquiry into the compliance of the deal on acquisition of a stake in DESFA with the EU regulations in November 2014. Currently, the deal is being considered by the European Commission's Directorate General for Competition, and the procedure will last until the end of 2016.

TAP is meant to transport natural gas from the giant Shah Deniz 2 field in Azerbaijan to Europe. The approximately 870 km long TAP will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in southern Italy.

TAP's construction is expected to start in 2016. Its initial capacity will be 10 billion cubic meters of gas a year.

TAP's shareholders are BP (20 percent), SOCAR (20 percent), Snam S.p.A (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).

---

Follow the author on Twitter: @MaksimTsurkov

Airport in Uzbekistan extends tender for purchase of batteries
Airport in Uzbekistan extends tender for purchase of batteries
Airport in Uzbekistan extends tender for purchase of building materials
Airport in Uzbekistan extends tender for purchase of building materials
Kazakhstan’s oil-producing company opens tender to buy pipes
Kazakhstan’s oil-producing company opens tender to buy pipes
Loading Bars
Latest
Transactions on Uzbek stock exchange increase despite COVID-19
Kazakhstan sees decrease in mutual trade with Kyrgyzstan over 11M2020
Import of products by air to Azerbaijan plunges in 2020
Azerbaijani Ministry of Economy talks tax revenues to state budget for 2020
Steel production in Iran rising up
Azerbaijan reveals last year's export, import volumes
Saudi Arabia will be able to reverse its1 mbd cut in April
Global diesel demand to break above 2019 levels in September 2021
Vaccine from COVID-19 used in Azerbaijan - most safe and effective - health minister (PHOTO)
Iran unveils data on its gas extraction
JP Morgan forecasts oil surplus in 1Q21, rapidly tightening markets thereafter
Azerbaijan shows footage from Merdinli village of Fuzuli district (VIDEO)
Iran's rising inflation affects foreign currency rate - analyst
EU gas storage up due to lower demand
Remittances from Azerbaijan to Georgia up
Georgian Nikora supermarket chain aims to increase its turnover
Uzbekneftegaz detects previously unknown layers of natural gas at Lower Surgil field
Airport in Uzbekistan extends tender for purchase of batteries
Airport in Uzbekistan extends tender for purchase of building materials
Georgia sees significant decrease in COVID-19 cases
UK teachers, police, shop workers could get vaccine in phase 2
President Aliyev sends letter to Kazakhstan's First President Nazarbayev
Azerbaijan unveils data on total exports for 2020
Weekly review of Azerbaijani oil prices
CNPC ready to expand mutually beneficial co-op with Turkmenistan
Kazakhstan’s oil-producing company opens tender to buy pipes
India gives Nepal 'iron clad' commitment on Covid-19 vaccine, supply schedule coming week
UK invites PM Modi to attend G7 summit in June; Boris Johnson likely to visit India ahead of summit
Israel can contribute to reconstruction process in Azerbaijan's Karabakh - Azerbaijani MP
Uzbekistan, Kazakhstan consider opening new transport corridors
Prospects of Nakhchivan corridor - new dev't stage in post-blockade period -Azerbaijani MP
Indian government offers Nepal HADR training, capacity building
Uzbekistan to provide discounts for foreign airlines carrying pilgrims
Saudi Arabia interested in expanding investment co-op with Uzbekistan
Tourism not to reach pre-pandemic levels until 2023 in Georgia
Turkmenistan - supplier of polymer products for Russian plant
Azerbaijani MoD shares footage from Aghdam district's Khydyrly village (PHOTO/VIDEO)
Azerbaijan's Health Minister, Head of TABIB vaccinated from COVID-19 (PHOTOS)
Vietnam gives Foxconn unit licence for $270 million plant to produce laptops, tablets
Azerbaijani medical workers undergoing vaccination from COVID-19 (PHOTOS)
Coronavirus vaccination in Azerbaijan to kick off on Jan. 18
Azerbaijan leads in South Caucasus in terms of military power
Kazakhstan approves rules for categorization of hydrocarbon deposits
Iran's trade turnover with Lebanon declines
Oil's supply-led rally peters out as virus cases surge
FinExpertiza highlights investments that brought highest returns in 2020
Iranian currency rates for January 18
Iran issues licenses for setting up enterprises in Bushehr Province
New coronavirus variant hits posh Swiss resort of St Moritz
Iranian COVID-19 vaccine enters fourth stage of human trial
Seized S. Korean tanker to be released soon - Iran-South Korea Chamber of Commerce
UAE, Afghanistan buy aviation kerosene on Turkmenistan's exchange
Azerbaijan ranks second in Oxford COVID-19 Government Response Tracker
Azerbaijani currency rates for Jan. 18
SOCAR talks on new perspective sources for Southern Gas Corridor
Over 61% of work on Absheron First Gas project completed
Work on installation of Karabagh support block ongoing
Azerbaijan shares data on foreign companies engaged in illegal activities in formerly occupied territories
Azerbaijan increases export of oil products
Azerbaijani Finance Ministry to auction mid-term bonds
Azerbaijan talks seismic stations to be installed in liberated lands
Uzbekistan reveals COVID-19 data for January 18
Tehran Stock Exchange's TEDPIX experienced significant drop
Increase of customs duties rarely affects imported commodity prices - Iran's Import Supreme Council
Iran approves new amendments to support electronic administrative system
Iran distributes Euro 4 standard fuel to big cities
Methane emissions in oil and gas industry could rebound strongly
Restoration of transport communications in S.Caucasus - major infrastructure construction project - Russian expert
Secretary-General of Turkic Council talks destruction of Azerbaijan's Aghdam city
China reports 109 new COVID-19 cases as infections persist in northeast
Azerbaijan discloses oil price per barrel
Weekly review of Azerbaijani precious metals market
Azerbaijan’s import of products in 2020 down
Iran shares data on loans issued for manufacturing enterprises in Kurdistan province
Area for wheat planting in Iran grows
Iran sees increase in trade turnover with Oman
First loading and unloading equipment enters Iranian Chabahar port
Iranian parliament seeks to increase foreign currency rate
Global coronavirus cases top 95 mln
Brazil to begin mass COVID-19 vaccination campaign on Jan. 20
US non-profit group demands Apple remove Telegram from App Store
Iran's Persian Gulf Bid-Boland Gas Refining Company continues its exports
Mass coronavirus vaccination campaign begins in Russia
India confirms 447 cases of adverse events following COVID-19 vaccination
France registers 16,642 new coronavirus cases, 141 deaths
Sweden continues to use remdesivir for COVID-19 treatment despite WHO advice: report
Biden will wait for recommendation on sharing secrets with Trump
UK records lowest daily increase of coronavirus cases this year
Israel registers 5,825 new COVID-19 cases, totaling 547,689
Brazil clears emergency use of Sinovac, AstraZeneca vaccines, shots begin
Azerbaijan discloses volume of methanol exported in 2020
Portugal's health system on brink of collapse as COVID-19 cases surge
Iran, EUAE trade value hits $3.419B since signing PTA: TPOI
Turkey's daily COVID-19 case count drops below 7,000
Iranian Offshore Oil Company boosts extraction
EBRD and Bank CenterCredit support Kazakhstan packaging producer
Israel economy likely to grow 4.6% in 2021, says finance ministry
Russia reports over 23,500 daily coronavirus cases
Quake death toll at 78 as Indonesia struggles with string of disasters
Kazakhstan twofold decreases exports to Poland
All news