ECONOMY

Sintez withdrawal leaves road clear for SOCAR in sale of Greek gas operator DESFA, sources say

Russian energy company Sintez will not submit a binding bid to buy Greek natural gas grid operator DESFA, leaving Azerbaijan΄s state company SOCAR as the only major player in the race, sources said on Monday.

“Sintez has withdrawn from the bidding,» one official close to the company told Reuters. Two Greek officials involved in the privatisation process confirmed the news.

Greek-Czech group PPF-Terna, the third possible contender, is also not expected to bid, another source close to the procedure told Reuters.

The deadline to submit binding bids for DESFA and its parent group DEPA expire at 1000 GMT. Russian energy giant Gazprom is the only major energy major expected to bid for DEPA.

[Reuters]