Copelouzos group gains foothold on Greek gas grid operator DESFA

The Copelouzos energy group has gained a foothold in Greek gas grid operator DESFA through the acquisition of a minority stake in European consortium Senfluga.

Specifically, Damco Energy SA, a Copelouzos Group company, announced yesterday that it had acquired a 10 percent stake in Senfluga Energy Infrastructure Holdings SA, which owns 66 percent of DESFA, as well as the grid operator's management. Therefore, the Copelouzos Group now owns 6.6 percent of DESFA.

Senfluga itself is a consortium set up by three major European gas operators - Italy's Snam, Spain's Enagas and Belgium's Fluxys. Although the acquisition is subject to approval by the Regulatory Authority for Energy, the Environment and Energy Ministry has hailed the acquisition.

"Damco's investment is the result of long and constructive talks between the two sides and has been structured on the same...