Edison

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 establishment of a single company that will take over on behalf of the Greek state both the rights of exploration and exploitation of hydrocarbons and the participations of DEPA in the international pipelines of natural gas is expected to be announced tomorrow morning by the Prime Minister Kyriakos Mitsotakis.

London-based Greek-owned company Energean completed its acquisition of Edison Exploration & Production SpA from Edison SpA, it said on Thursday, with a final net consideration of $203 million.

Greece's privatization agency (TAIPED) said on Tuesday that it has shortlisted seven investors for the purchase of a majority stake in the country's dominant gas supplier, DEPA Commercial.

A joint venture between Greek utility DEPA and Italy's Edison is seeking to shortlist two contractors to build part of a pipeline to carry natural gas from the eastern Mediterranean's rapidly developing gas fields to Europe, DEPA said on Thursday.

Israel-focused Energean Oil & Gas Plc on Monday agreed to sell Edison E&P North Sea assets to Neptune Energy Group for up to $280 million, as part of an ongoing plan to sell non-core assets.
Energean, which is focused in the Mediterranean, will sell Edison E&P's UK and Norwegian units for $250 million, with additional cash contingent consideration of up to $30 million.

Israel-focused gas driller Energean said on Thursday it will buy Italian energy group Edison's oil and natural gas unit for an initial consideration of $750 million.
The acquisition would significantly expand Energean's operations in the growing eastern Mediterranean gas hub, with a significant presence in Egypt's offshore basin.

Israel-focused gas driller Energean has emerged as the front-runner in the race to acquire Italian energy group Edison's oil and natural gas unit, two sources directly involved in the deal said.
The acquisition would significantly expand Energean's operations in the growing Eastern Mediterranean gas hub with a significant presence in Egypt's offshore basin.

Italy will not allow the Poseidon gas pipeline being developed by Italy's Edison and Greece's DEPA to make landfall as planned in southern Italy, the Italian prime minister said on Tuesday.