ECONOMY

Greece sees gas grid deal with Azeri SOCAR progressing

greece-sees-gas-grid-deal-with-azeri-socar-progressing

Greece's privatization agency said on Wednesday that Azerbaijan's state-owned oil company SOCAR had confirmed its interest in acquiring a stake in Greek gas grid operator DESFA, with a deal possible by the end of the year.

"All the parties involved reiterate their commitment to complete the deal as soon as possible," TAIPED, the Greek privatization body, said in a statement.

The potential deal, that has been negotiated since 2013, would involve SOCAR buying a 66 percent stake in DESFA for around 400 million euros. [Reuters]