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Two Russian companies make it to 2nd stage of DEPA privatisation tender

April 12, 2012, 3:48 UTC+3

At the second stage, the bidders will have to present their financial offers

1 pages in this article

ATHENS, April 12 (Itar-Tass) —— Two Russian companies, Negusneft and Gazprom, and 12 other foreign companies have been waved through to the seconds stage of the tender for the sale of the Greek state-owned gas company DEPA.

The list includes 14 of 17 investors who showed interest in the tender: SOCAR /Azerbaijan /, Mitsui and Co /Japan/, Enagas /Spain/, ENI /Italy/, SONATRACH /Algeria/, OJSC Negusneft /Russia/, Vopak LNG Holding B.V. /Netherlands/, Israel Corporation Ltd /Israel/, M&M GasCo SA /"Mitilineos&Motor Oil - Greece/, Gazprom Finance B.V. /Russia/, PPF Capital Partners Fund B.V. /Czech Republic/, TERNA /Greece/, Gas Natural SDG S.A. /Spain/, and Edison /Italy/.

At the second stage, the bidders will have to present their financial offers.

On February 29, 2012 the Greek Government announced the start of a bidding procedure for privatization of DEPA, the state-run gas company.

DEPA is focused on wholesale purchases, sales and supplies of natural gas to industrial consumers and households in Greece. It operates within the jurisdiction of the Ministry of Development. In 2005, in order to liberalise the natural gas market, DESFA SA was created as a fully owned subsidiary to transport natural gas within Greece. Since then, DEPA sells gas to large consumers and to the gas supply companies. Natural gas is imported by pipelines from Bulgaria and Turkey and by liquified natural gas at the Revithoussa LNG Terminal.

At present, the Greek Republic owns a 65 percent stake in the company and a 35 percent stake is held by the domestic refining company Hellenic Petroleum.

In the middle of March Gazprom CEO Alexei Miller met with Dimitrios Copelouzos, Chief Executive Officer of Prometheus Gas, to discuss the possibility of bidding for DEPA.

Miller and Kopelouzos “addressed the prospects for Russian-Greek cooperation deepening in the energy sector,” the company’s statement said, including “the current status and the outlook for the Greek gas market.”

In 2011, Gazprom supplied Greece with 2.9 billion cubic meters of natural gas.

Prometheus Gas is a Russian-Greek joint venture owned by Gazprom Export and Copelouzos Bros. Group on a parity basis. The company was established in 1991 to develop cooperation in the gas sector between Russia and Greece. Prometheus Gas is constructing a number of energy facilities in Greece.


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