ECONOMY

Fluxys gives up on DESFA stake, dealing blow to Socar

fluxys-gives-up-on-desfa-stake-dealing-blow-to-socar

The departure of Belgian firm Fluxys from talks about it buying a stake in Greece’s gas transmission network operator DESFA is definitive, which could lead to the collapse of the operator’s transfer to Azeri firm Socar.

Sources say that the board of the company that operates Belgium’s gas system and had expressed an interest in DESFA’s 17 percent stake has decided to abandon that plan.

Fluxys communications manager Rudy Van Beurden told an energy conference in Athens on Tuesday that the company is supporting the Trans Adriatic Pipeline (TAP), without making any reference to DESFA.

Still, Socar hopes it can overcome the European Union obstacles and acquire a controlling stake in DESFA, with Anar Mammadov, the chief executive officer of its Greek subsidiary, Socar Energy Greece, telling the same conference that the Azeri state firm is doing all it can to complete the acquisition.