Snam-led consortium completes acquisition of DESFA’s 66% stake
Baku, Azerbaijan, Dec.20
By Leman Zeynalova – Trend:
The consortium consisting of Snam (60 percent), Enagás (20 percent) and Fluxys (20 percent) has completed the acquisition of a 66 percent stake in DESFA, the national operator in the natural gas infrastructure sector, from the Hellenic Republic Asset Development Fund (HRADF) and Hellenic Petroleum for a consideration equal to 535 million euros, Trend reports citing a message from Enagas.
The consortium, which was awarded the tender for the DESFA privatization in April 2018, made the acquisition through the new company Senfluga Energy Infrastructure Holdings.
“Thanks to the support of Snam, Enagás and Fluxys – three major European infrastructure companies which are committed to the creation of the Energy Union – DESFA will be able to fully exploit its strategic position in the Mediterranean, which will contribute to the country’s growth. The consortium will also promote natural gas innovation in Greece, will foster the introduction of renewables gasses such as biomethane in order to create a sustainable energy system, and will make an active contribution to the reduction of the country’s emission of both harmful pollutants and greenhouse gasses,” said the message.
Snam, Enagás and Fluxys are also shareholders of the Trans Adriatic Pipeline (TAP) project, which envisages transportation of Azerbaijani gas to Europe.
The National Natural Gas System Operator (DESFA) S.A. is responsible for the operation, management, exploitation and development of the National Natural Gas System and its interconnections, in a technically sound and economically efficient way.
DESFA also facilitates the development of competition in the Greek energy market, while systematically striving for the reduction of greenhouse gas emissions.
DESFA owns and operates, under a regulated regime, a high pressure transport network of about 1,500 km, as well as a regasification terminal at Revithoussa.
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