Interest to buy 66-percent share remains, SOCAR tells DESFA

SOCAR (State Oil Company of Azerbaijan) has reaffirmed its interest in the acquisition of a 66 percent stake in the DESFA Greek gas transport operator, the Greek media reported Nov.16.

SOCAR is the sole producer of oil products in Azerbaijan. It has two oil refineries and filling stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland. The company is the co-owner of the largest Turkish petrochemical complex, Petkim, and other assets in Turkey.

The head of the Greek Regulatory Authority for Energy (RAE) Nikolaos Boulaxis discussed acquisition of a stake in DESFA by SOCAR with Azerbaijani Ambassador to Greece Rahman Mustafayev and Head of SOCAR Greece Anar Mammadov.

In addition, the sides discussed issues concerning the transfer of a 17 percent share from the part of the European company acquired by the SOCAR. The meeting was held at the initiative of SOCAR, according to the Greek media.

Earlier, the first formal expression of interest in the 17 percent stake in Greek natural gas transmission network operator DESFA was received by state sell-off fund TAIPED from Snam, the operator of the Italian network.

SOCAR won a tender in December 2013 on the sale of 66-percent share in DESFA for 400 million euros. The European Commission started an inquiry into the compliance of the deal on acquisition of a stake in DESFA with the EU’s regulations In November 2014. Currently, the deal is being considered by European Commission’s Directorate-General for Competition, and the procedure will last until late 2015.

An informal interest in DESFA has been expressed by Fluxys and Dutch company Gasunie in the past.

/By Trend/