Gas Processing is Produced by Gulf Publishing Company

Your source for technology information for the gas processing industry


Greece seeks final bids for gas grid sale before year-end

ATHENS (Reuters) — Greece aims to get binding offers from investors shortlisted for a 66% stake in state-controlled natural gas grid DESFA by the end of the year, two sources close to the process said on Wednesday.

Under its latest international bailout with the European Union and the International Monetary Fund, Greece is selling a 31% stake in DESFA and Hellenic Petroleum is selling its 35% stake in the grid. The country needs to conclude the sale by the end of the year.

Spain's Regasificadora Del Noroeste (Reganosa) and a consortium of Italy's Snam, Spain's Enagas, Belgium's Fluxys and Dutch Gasunie got the green light last month to carry out a due diligence process before they submit binding bids.

"They (bidders) are in the process of getting access to DESFA's virtual data room," an official with knowledge of the matter told Reuters. "The aim is to have binding bids before the end of the year."

Another source said the offers were expected in December.

Greece's privatization agency (HRADF) which is handling the sale declined to comment.

A previous deal to sell the stake to Azerbaijan's SOCAR for $472.28 MM collapsed last year after Athens passed legislation raising DESFA's gas tariffs by a lower amount than SOCAR had expected, and SOCAR subsequently sought to lower the acquisition price.

Reporting by Angeliki Koutantou. Editing by Jane Merriman


Copyright © 2016. All market data is provided by Barchart Market Data Solutions. Futures: at least 10 minute delayed. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.

                                  Cmegroupicon                                     Icelogo

FEATURED COLUMNS

Business Trends
-Julian Thomas
Indonesia, home to 260 MM people on 14,000 islands across a vast archipelago, is estimated to become the seventh-largest economy in the world by 2030, with such growth expected to boost the nation’s energy consumption by 80% from present levels.<sup>1</sup>
Editorial Comment
-Adrienne Blume
At October’s HPI Forecast Breakfast for our sister publication, <i>Hydrocarbon Processing</i>, I shared <i>Gas Processing</i>’s forecast on change in the LNG industry.
Executive Viewpoint
-Christina Andersen
In one of the toughest markets in the history of gas compression, we are challenged to deliver more with less.


The New LNG Imperative

Register Now

The shale gas boom established the US as the world’s leading natural gas producer and is responsible for billions of dollars of investments in the US gas processing industry. Since 2012, the US has witnessed unprecedented growth in new gas processing capacity and infrastructure. This rise is due to greater production of domestic shale gas, which is providing cheap, available feedstock to fuel the domestic gas processing, LNG and petrochemical industries. New gas processing projects include the construction of billions of cubic feet per day of new cryogenic and gas processing capacity, NGL fractionators, multi-billion-dollar pipeline infrastructure projects, and the development of millions of tons per year of new LNG export terminal construction. Attend this webcast to hear from Lee Nichols, Editor/Associate Publisher, Hydrocarbon Processing, Scott Allgood, Director-Data Services, Energy Web Atlas and Peregrine Bush, Senior Cartographic Editor, Petroleum Economist as they discuss the future of LNG and the application of Energy Web Atlas, a web-based GIS platform which allows users to track real-time information for every LNG project.

November 29, 2017 10am CST

View on Demand

 

Please read our Term and Conditions, Cookies Policy, and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2015 Gulf Publishing Company.