SOCAR

By Chryssa Liaggou

By Chryssa Liaggou

Natural gas will be 20 percent cheaper for Greek consumers by March, while the first 5 percent drop in rates will come next month thanks to the significant decline in the commodity’s global prices, according to Environment, Energy and Climate Change Deputy Minister Makis Papageorgiou.

By Chryssa Liaggou

Belgian natural gas network operator Fluxys is said to be eyeing the Greek gas grid, after signing an agreement on Monday with its Greek counterpart (DESFA) for the drafting of a study on the creation of a virtual gas hub in Greece, which would pave the way for the first regional gas hub in southeastern Europe.

Energy Minister Yiannis Maniatis in Tuesday announced state sell-off fund TAIPED’s proclamation of a tender for the creation of a natural gas storage facility at the South Kavala reserve in eastern Macedonia.

By Chryssa Liaggou

Azeri state energy giant Socar is contemplating the possibility that its deal to acquire a controlling stake in the Greek natural gas transmission network operator (DESFA) may fall through following the intervention of the European Commission this week.

Azeri state energy company SOCAR said it expected to close a deal to purchase Greek natural gas grid operator DESFA in early 2015, anticipating that it will clear an investigation by the European Commission.

SOCAR was the only bidder in a tender for DESFA last year, offering 400 million euros ($501 million) for a 66 percent stake.

President Recep Tayyip Erdoğan is set for his first international appearances after taking office on Aug. 28, including participation at the key NATO Summit and bilateral visits to Northern Cyprus and Azerbaijan.

 EC reluctant to recognize Socar as DESFA’s owner; Athens tries to force issue

The deal for Azeri natural gas company Socar to buy a controlling stake in Greece’s Natural Gas Transmission Network Operator (DESFA), which was agreed last year, is not near completion yet because of the European Commission’s reservations, diplomatic sources have told Kathimerini.

Azerbaijan’s government-run energy company has announced that private schools run by affiliates of the movement led by U.S.-based Islamic scholar Fethullah Gülen have been closed down.

Prime Minister Antonis Samaras and visiting Azeri President Ilham Aliyev on Monday discussed two major investments that promise to draw much-needed revenue – the privatization of Greece’s gas transmission network (DESFA) and the construction of the Trans Adriatic Gas Pipeline (TAP), that would cross Greece.