Public Gas Corporation

Natural gas prices are gradually returning to their historical norms, reflecting the basics of supply and demand, Public Gas Corporation (DEPA Commerce) CEO Konstantinos Xifaras told the 5th Power & Gas Forum on Thursday.

The positive prospects of the Athens Stock Exchange (ASE) will provide a solution to the suspended privatization of DEPA Commercial, a subsidiary of Public Gas Corporation (DEPA).

The plan is to get HELLENiQ Energy (the former ELPE) to sell its 35% stake in DEPA Commercial to the state, which, in turn, will list the company on the ASE.

Positive developments are foretold for the EastMed gas pipeline, following the recent 180-degree turn of the Italian parliament, which unanimously passed a resolution in support of the major project.

The government is facing hard legislative and executive work ahead to complete the privatization projects that have been ongoing for a long time and to proceed with others that have run into problems. At the same time, it will take an extra push to start other projects concerning the privatization of state assets that have not been utilized.

Speaking on Thursday to the chief executive officer of Public Gas Corporation (DEPA), Konstantinos Xifaras, US Ambassador in Athens Geoffrey Pyatt expressed Washington's warm support for the project of the Floating Storage Regasification Unit (FSRU) off Alexandroupoli in northeastern Greece, as it assists the US in its strategy for the diversification of Europe's energy sources.

Public Gas Corporation (DEPA) has shifted to an aggressive commercial policy, aiming to reverse the contraction of its market share, which dropped to 33 percent at end-2019 from 58 percent in 2018.

State sell-off fund TAIPED has recorded strong investor interest in the concession of DEPA Infrastructure, the Public Gas Corporation offshoot that includes only the utility's infrastructure and of which 65 percent belongs to the state and 35 percent to Hellenic Petroleum.
The fund expects at least seven to eight bidders in the first stage of the tender.

Public Gas Corporation's (DEPA) plans to expand the use of liquefied natural gas (LNG) in shipping are proceeding with the support of the European Investment Bank.

Italy's biggest natural gas distribution company, Italgas, is on the verge of entering the Greek market.

Kathimerini understands that Europe's third largest gas distributor is very close to reaching an agreement with fellow Italian Eni Gas e Luce for the acquisition of the latter's portfolio in the Greek gas grid.

The gradual distancing of Public Power Corporation (PPC) from Public Gas Corporation (DEPA), of which the power giant used to be the main client, will likely be the killing blow for the gas utility's competitiveness, just as the state is getting ready to privatize it.