Fluxys

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.

Greek gas grid operator DESFA is of major strategic importance for the broader natural gas market, as its network runs along the Southern Gas Corridor to the heart of the European Union, where most new routes bringing the commodity to central European markets will pass, Marco Alvera tells Kathimerini.

The consortium of European firms Snam, Enagas and Fluxys, named Senfluga Energy Infrastructure Holdings SA, is as of Friday the new owner of the controlling stake in natural gas grid operator DESFA, almost six years after the first attempt to privatize the company.

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

State sell-off fund TAIPED on Thursday opened the way for the consortium of Italy's Snam, Spain's Enagas and Belgium's Fluxys to acquire 66 percent of Greece's gas grid operator DESFA, thereby strengthening the southern Europe energy axis built around the Trans Adriatic Pipeline (TAP).

The strategic interest of Italian gas infrastructure company Snam in the Greek gas network was confirmed on Monday with the opening of the improved financial offers for the acquisition of 66 percent of gas grid operator DESFA.

A consortium of Italy's Snam, Spain's Enagas, Belgium's Fluxys submitted the highest bid in an international tender for the acquisition of a 66 percent stake in natural gas grid operator DESFA, Greece's privatization agency (TAIPED) said on Monday, after it unsealed the offers.

State sell-off fund TAIPED, in cooperation with Hellenic Petroleum, is expected on Friday to open the new and improved binding offers for a 66 percent stake in gas grid operator DESFA.

Greece's privatization agency (HRADF) on Thursday called on the two consortia that submitted binding bids for the acquisition of a 66 percent stake in the country's gas grid operator DESFA to improve their offers.

This means the preferred investor will be determined in a new round of bidding.

Greek authorities have started assessing the technical aspects of the two bids for a stake in natural gas network operator DESFA, while the financial offers will be opened on March 9.

All signs point to the price for 66 percent of DESFA topping 400 million euros, although that will also depend on the company's cash reserves when the transaction is completed.