Media: Militants leave Aleppo’s ancient quarters via special corridorWorld December 07, 13:21
Putin offers condolences to president of Indonesia over deadly earthquakeWorld December 07, 13:18
Russia’s Aerospace Force to fully renew aircraft by 2026Military & Defense December 07, 13:07
Press review: Washington’s latest proposal on Syria and cyberattacks on Russian banksPress Review December 07, 13:00
Abe says Tokyo’s cooperation plan with Russia is beneficial for JapanWorld December 07, 12:53
Kremlin reiterates offer for militants to leave Aleppo 'still on the table'Russian Politics & Diplomacy December 07, 12:45
Moscow hopes those to blame for strike on Aleppo hospital will be punishedRussian Politics & Diplomacy December 07, 12:32
Lavrov to meet with Kerry and Steinmeier in HamburgRussian Politics & Diplomacy December 07, 12:28
Army's contract for Ka-52 'Alligator' helicopters to continue till 2020Military & Defense December 07, 11:58
BAKU, June 21 (Itar-Tass) - The State Oil Company of Azerbaijan Republic (SOCAR) will acquire a 66 percent stake in Greece’s natural gas grid operator DESFA.
The agreement in principle was reached with Hellenic Republic Asset Development Fund (HRADF), SOCAR said in its statement on Friday.
“At present, advisory groups of SOCAR and HRADF are finalizing technicalities,” the statement read.
SOCAR President Rovnag Abdullayev said his company’s decision to buy DESFA “proves a high level of bilateral relations between Azerbaijan and Greece and their leading energy companies.”
“SOCAR that has accumulated good experience in operating gas pipelines in the Caspian Sea region is ready to start work in the first such project in the EU member-states, namely in Greece. The State Oil Company of Azerbaijan Republic looks optimistically into future cooperation with Greece,” he said.
The deal’s sum has not been disclosed, but several sources say SOCAR offered 400 million euro for the stake.
At present, Greece’s top oil refiner Hellenic Petroleum owns a 35 percent stake in DESFA and the Greek government - a 31 percent stake. It is expected that the latter will get around 188 million euro for its stake.
On the list of contenders in the bidding contest were also Russia’s Sintez Group and Greek-Czech group PPF-Terna. However, in June 2013 both companies abandoned their plans.