BUSINESS

Greece pushes back bid deadline for offshore gas storage facility

TAGS: Energy, Privatizations

Greece has pushed back by a month a deadline for investors to bid for a contract to run an underground gas storage facility in the northern Aegean Sea.

Privatisation agency HRADF (or TAIPED), which manages the concession, said late on Tuesday that it had extended the deadline for initial bids to Sept. 30 from Aug. 31, without giving a reason for the delay.

Investors are invited to bid for development and operation for up to 50 years of the gas storage facility in an almost depleted deposit off the northern Greek city of Kavala, according to the tender.

The facility has an estimated storage capacity of 1 billion cubic metres and is close to an existing oil field. [Reuters]

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