Tuesday September 30, 2014 Search
Weather | Athens
26o C
17o 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)  
Greek unemployment dips to 27 pct in June, but still highest in EU
EU gives more aid to farmers hurt by Russia sanctions
Greeks ruled ship market in August
Nine properties to be auctioned next week
Roma camp evacuation postponed; flow resumes on Mesogeion Avenue
Plans to evacuate and partially demolish a Roma encampment in the northern Athenian suburb of Halandri, erected nearly four decades ago on a site behind the present-day Nomismatokopio metro ...
EU must boost air, sea migrant rescues, says Amnesty International
BRUSSELS - The EU's new leadership must boost air and naval power in the Mediterranean to rescue migrants who are dying in record numbers trying to reach the continent's shores, Amnesty Inte...
Inside News
SOCCER
All team sports suspended next weekend in memory of dead fan
The government announced on Monday the suspension of all team sports events in Greece scheduled for next weekend, October 4 and 5, in the memory of the Ethnikos Piraeus fan who died a few ho...
SOCCER
Karamanos punishes Michel for deeming him surplus
Atromitos forced Olympiakosís first loss this season in all competitions on Saturday to allow PAOK to go alone on top of the Super League table on Sunday. Odds-on title favorite Olympiakos l...
Inside Sports
COMMENTARY
Next-day jitters
It is usual for Greek governments, whether one-party or coalitions (which are normally loath to actually work together), to claim that their only real challenge is dealing with the countryís...
EDITORIAL
No sweet debt deals
The lionís share of Greeceís debt is held by European Union member states and the International Monetary Fund. A writedown of the European part of the debt would require the approval of the ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
†RECENT NEWS
1. Greek unemployment dips to 27 pct in June, but still highest in EU
2. Roma camp evacuation postponed; flow resumes on Mesogeion Avenue
3. EU must boost air, sea migrant rescues, says Amnesty International
4. EU gives more aid to farmers hurt by Russia sanctions
5. Commissioner-designate Avramopoulos to face three-hour interview on EUīs migration portfolio
6. Roma camp off Mesogeion Avenue set for demolition amid reactions
more news
Today
This Week
1. Roma camp off Mesogeion Avenue set for demolition amid reactions
2. Next-day jitters
3. No sweet debt deals
4. Commissioner-designate Avramopoulos to face three-hour interview on EU's migration portfolio
5. EU gives more aid to farmers hurt by Russia sanctions
6. EU must boost air, sea migrant rescues, says Amnesty International
Today
This Week
1. Alexander the Great's tomb not at Amphipolis, says Culture Minister
2. Greece may opt for unusual president to avoid snap polls, Venizelos says
3. Woman allegedly buried alive by accident in northern Greece
4. Salaries in Greece continue to slide, dipping 1.4 pct in Q2
5. Venizelos denies jihadis are being trained in Greece
6. Should you bet with Kissinger on where the world is heading?
†††Find us ...
††... on
Twitter
†† ††... on Facebook ††
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.