DESFA deal is put off to September

September should witness the next developments regarding the sale of the majority stake in public gas transmission network operator DESFA to Azeri firm Socar, according to the new managing director of Hellenic Petroleum, Grigoris Stergioulis.

The deal between Greece and the Azeri state company is currently under examination by the European Commission. However, that only concerns the transfer of a 49 percent stake in the Greek company and not 66 percent, as provided for in the tender.

Stergioulis added that his company, a DESFA stakeholder, is also looking into alternative solutions for the 212 million euros that Hellenic Petroleum had been set to collect from the sale to the Azeris, which the Greek group had factored in. However, Stergioulis noted that the approval of the transfer and what the candidate buyer will do do not depend on Hellenic Petroleum.