Sunday November 23, 2014 Search
Weather | Athens
18o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Energy market taken aback by Enelís interest

By Chryssa Liaggou

The energy sector was surprised at Enelís eagerness to learn about Greeceís hydrocarbon surveys, as the bulk of the Italian firmís activity is focused on the production, transmission and distribution of electrical energy from conventional and renewable sources.

Rather, the local energy market had presumed that the Italian state electricity corporation would be far more interested in the privatization of Public Power Corporation (PPC), a view that solidified after Electricite de France, Enelís main competitor in the European electricity market, expressed its own interest in the Greek power giant.

The Italian company is already active in Greece via its Enel Green Power subsidiary that is developing a program for the installation and operation of wind parks totaling some 450 megawatts. Enel Green Power is the groupís most dynamic and financially robust section internationally and besides its other interests in Greece has been studying the countryís geothermal domain, too. It is currently locked in negotiations with the Energy Ministry regarding the concession of geothermal fields beside the Nestos River in eastern Macedonia and has expressed an interest in becoming a strategic investor in the PPC concessions of the geothermal fields the Greek firm owns on the islands of Milos and Nisyros.

In any case, Enelís interest in Greek hydrocarbons can only be viewed in a positive light. This is a large corporation that is active in 40 countries with installed power of 98,000 MW and 74,000 employees, boasting a client network of over 61 million consumers. However its activity in hydrocarbons is currently limited to Italy, where it is an operator in seven concessions, as well as Algeria and Egypt, where it is a non-operating investor.

According to Energy Ministry sources, the Italian companyís interest in the three Greek areas in Epirus and Western Greece is a part of its strategy to step up its activity in the southeastern Mediterranean. Without devaluing the significance of this interest, market professionals note that it would have borne more weight had it come from a major oil company.

The same professionals, who are closely monitoring the program for the utilization of Greek hydrocarbons, as well as investors who are participating in the open-door tender concessions, have observed a huge and risky gulf between the ďpublic affairs managementĒ and the effectiveness of actions to that direction. They speak of ďmany decision centersĒ and note the state mechanismís inability to handle the investor interest that has already emerged as well as that expected as of June during the major round of concessions in the Ionian Sea and south of Crete. ďAll the work is currently being done by just three people at the ministry,Ē one investor said, stressing the need for the immediate manning of the Hellenic Hydrocarbons Management Company (EDEY).

Regarding Enelís interest in the areas of Arta-Preveza, Aitoloacarnania and Achaia, Energy Minister Yiannis Maniatis this week stated that he expects that the ministryís responsible committee will soon proceed with the proclamation of the international tender. Investors will be able to declare their interest in those regions within 90 days.

Energean Oil & Gas, which controls the Prinos reserves in the northern Aegean and has emerged as the winning bidder in the tender for the concession of the reserves at Ioannina and Katakolo, will also be present in this international tender, as its chief executive Mathios Rigas has told Kathimerini.

ekathimerini.com , Friday April 25, 2014 (20:10)  
Fitch keeps Greek rating at ĎB,í outlook stable
More cash for banks with same papers
Growth to fuel rise in revenues
Commercial property draws interest from investors
Cyprus on agenda in Biden visit to Istanbul
The prospects for the resumption of stalled peace talks on Cyprus and the issue of energy security were among the matters discussed on Saturday by US Vice President Joe Biden and Turkish gov...
PASOK nixes Papandreou leadership challenge
The junior coalition partner PASOK rejected over the weekend a proposal by the partyís former leader and ex-premier George Papandreou for the party to call an emergency congress and a subseq...
Inside News
INTERVIEW
Tokyo hopes to change the world
The 2020 Summer Olympic and Paralympic Games in Tokyo will serve as a springboard for the rebuilding of Japanís image and economy following the triple blow of the earthquake, tsunami and nuc...
BASKETBALL
Big win for Greens, tight one for Reds
Panathinaikos scored a crucial as well as emphatic away win at Turow on Thursday that should see it qualify from its tough group to the top 16 of the Euroleague, while Olympiakos saw off vis...
Inside Sports
COMMENTARY
Is Europe paying attention?
Barack Obama brought hope to the entire world when he was elected president of the United States in 2009 and then again in 2012 for a second term. During his first visit to Europe, marked by...
EDITORIAL
A reasonable agreement
Greece cannot and should not allow itself to be left without a safety net to make up for any funding needs that may crop up after the end of the year. Without such protection it would be at ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
†RECENT NEWS
1. Cyprus on agenda in Biden visit to Istanbul
2. PASOK nixes Papandreou leadership challenge
3. Troika tests govít nerves as budget rift persists
4. Climate change to hit farming, Greek coastline
5. Piraeus nightclub shooting leaves 3 seriously injured
6. London court to rule on extradition of former judge
more news
Today
This Week
1. Piraeus nightclub shooting leaves 3 seriously injured
2. Fitch keeps Greek rating at ĎB,í outlook stable
3. Climate change to hit farming, Greek coastline
4. PASOK nixes Papandreou leadership challenge
5. Cyprus on agenda in Biden visit to Istanbul
6. Troika tests govít nerves as budget rift persists
Today
This Week
1. Double quake on Atalanti fault line rattles Greek capital [Update]
2. Greece and Poland switch roles as young Greeks head to vibrant Eastern European country for better prospects
3. Anti-junta uprising anniversary to be marked amid tight security
4. Biden heads to Istanbul amid tension over Cyprus EEZ violation
5. Carlsberg takes control of Greek brewer Olympic Brewery [Update]
6. Every age has its collaborators
†††Find us ...
††... on
Twitter
†† ††... on Facebook ††
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.