The Greek privatisation agency has received expressions of interest for a 66% stake in the national gas transmission grid operator DESFA from six investors. The interested companies or consortia are Macquarie (Australia), Integrated Utility Services, Powerglobe, Reganosa (Spain), a consortium of GRTgaz (France) and Transgaz (Romania), and a consortium of Snam (Italy), Fluxys (Belgium), Gasunie (Netherlands) and Enagas (Spain). The privatisation agency will shortlist investors and invite them to submit binding offers at a later stage.
Under the terms of the bailout agreement approved with the European Union and the International Monetary Fund in August 2015, Greece must complete the privatisation of DESFA by the end of 2017. Under the agreement, Greece will divest its 66% stake, while Hellenic Petroleum, the largest oil refiner in Greece, will sell its 34% stake in the company.
Discussions between the Ministry of Energy of Greece and Azerbaijan’s state-owned oil company SOCAR on the sale of this 66% stake in DESFA failed over the price in November 2016. The company had agreed a €400m price but sought a lower price (€260m) when DESFA's tariffs were raised less than expected.