SOCAR: Acquisition of share in Greek DESFA to play great role in Azerbaijani gas supplies to Europe
Azerbaijan, Baku, Sept. 20 /Trend E. Ismailov/
Acquisition of the share in the Greek DESFA Company ( Greece's National Natural Gas System Operator) by SOCAR (the State Oil Company of Azerbaijan) to play a great role in Azerbaijani gas supplies to Europe, head of SOCAR (the State Oil Company of Azerbaijan) Rovnag Abdullayev told in his article published in Azerbaijan newspaper on Friday.
As the article said, SOCAR is on the verge of entering Greek gas market. The consent of the Property Management fund on SOCAR sales of 66 per cent stake in DESFA has alredy been received.
In turn, as the head of SOCAR stressed, based on the cooperation agreement signed between the DESFA and the Trans-Adriatic Pipeline (TAP) consortium, Greece's National Natural Gas System Operator will be engaged in operation, provide technical support to section of the TAP passing through the territory of Greece.
Acquisition of a share in the Greek DESFA Company by SOCAR will be carried out using state funds by SOCAR's increased authorised capital.
The European Commission's final decision on the transfer of control of a 66-per cent stake package in the Greek gas transmission operating company DESFA to SOCAR will be taken in the second quarter of 2014.
For the purchase of 66 per cent of shares (31 per cent shares of the State Privatisation Fund and 35 per cent of Hellenic Petroleum) SOCAR has offered 400 million euros.