Snam

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.

Gas supplies from Russia to Italy, which broke off on Tuesday because of the accident at the Baumgarten Austrian gas distribution center, were resumed last night, Reuters reported.

The deadline for the submission of binding offers for the 66 percent controlling stake in gas grid operator DESFA has been put off from December 22 to January 2018.

State sell-off fund TAIPED accepted a request to that effect submitted by candidate investors last week, as they want more time to prepare their offers.

Greece aims to get binding offers from investors shortlisted for a 66 percent stake in state-controlled natural gas grid DESFA by the end of the year, two sources close to the process said on Wednesday.

State sell-off fund TAIPED on Friday short-listed two bidders for the second round of the tender for 66 percent of gas transmission network operator DESFA.

They are Regasificadora del Noroeste and the consortium of Snam, Enagas Internacional, Fluxys and NV Nederlandse Gasunie.

The executive board of Greece's privatization agency, the Hellenic Republic Asset Development Fund (TAIPED), is set to approve a short list of candidates for the acquisition of a 66 percent stake in natural gas transmission system operator DESFA.

Greece received six expressions of interest for the sale of a 66% stake in state natural gas grid operator DESFA, the country’s privatization agency (HRADF) said in a press release on Monday.

The investor groups that responded to the tender are: