Energy agreements due on Friday

Energy agreements due on Friday

A series of eagerly anticipated agreement conclusions in the energy sector are expected to take place in Athens and Milan on Friday.

Representatives of the consortium comprising Snam, Enagas and Fluxys will travel to Athens for the signing of the shareholders’ agreement with state sell-off fund TAIPED for the acquisition of the 66 percent stake in gas grid operator DESFA for 535 million euros. Some 251 million euros of that will go to the state and 284 million will go to fellow stakeholder Hellenic Petroleum.

Also on Friday the management of Public Gas Corporation (DEPA) will be in Milan to sign the concession of a 51 percent stake in the Thessaloniki-Thessalia Gas Company to Italy’s Eni for 57 million euros, following the approval issued yesterday by the Competition Commission.

On the same day, or by Monday at the latest, the agreement for the transfer of 49 percent of Attica Gas Corporation from Shell to DEPA will be tabled at the Competition Commission. The position that Motor Oil decides to take on the issue is anticipated with interest, as the Athens-listed company had expressed its opposition to the deal long before it reached this stage.

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