Greece launches privatization of gas supplier DEPA Commercial
ATHENS (Reuters) - Greece launched the sale of a majority stake in state-controlled gas utility DEPA's wholesale and retail business, its privatization agency said.
The Greek government is selling a 65% stake in DEPA Commercial as part of the terms of the country's final EU/IMF bailout.
Hellenic Petroleum, Greece's biggest oil refiner holds the remaining 35% stake in the gas utility.
According to the tender document published by the privatisation agency, the preferred investor will also have the option to acquire Hellenic's stake in DEPA Commercial.
The agency set a March 6 deadline for the submission of non-binding bids.
DEPA has been Greece's dominant importer of pipeline and liquefied natural gas via long-term supply contracts, and its main gas supplier, with more than 350,000 retail customers in the wider Athens area.
Under its latest bailout which expired in 2018, Greece agreed to further privatise DEPA to help open up the market.
To achieve that, DEPA will be broken up in DEPA Commercial for wholesale and retail activities, and DEPA Infrastructure, which owns the distribution network to end-users.
Greece last year launched the sale of a 100% stake in DEPA Infrastructure, a
- Credit Agricole says it will not fund two major LNG projects
- Aramco awards $7.7-B contracts to add 1.5 Bscfd of raw gas to Fadhili Gas Plant
- Japan's JERA suspends output at 4 gas-fired power plants to secure LNG stocks
- TotalEnergies: Papua LNG project requires 'more work' to reach final investment decision
- Saudi Aramco, UAE's ADNOC in talks to invest in U.S. LNG projects
- Technip Energies awarded a major LNG contract for the North Field South Project by QatarEnergy
- Shell publishes Energy Transition Strategy 2024
- QatarEnergy to charter 19 new LNG vessels expanding fleet further
- Aramco awards $7.7-B contracts to add 1.5 Bscfd of raw gas to Fadhili Gas Plant
- Mabanaft announces successful acquisition of WESTFA Energy GmbH
Comments