In a consortium with France’s natural gas transmission system operator GRTgaz, Transgaz expressed its interest for a majority stake in Greece’s natural gas transmission system operator DESFA. Media in Greece announced that representatives of Hellenic Republic Asset Development Fund (TAIPED) will check that the expressions of interest are valid. This is expected to take two to three weeks because of the summer vacations. The privatization agency’s board is then due to approve the investors so they can pass on to the second phase of the tender, when they will gain access to DESFA’s virtual data room and have the right to submit a binding offer.

There were expressions of interest from Europe, the USA and Qatar: Macquarie Infrastructure and Real Assets (UK); a consortium of Italy’s Snam, Belgium’s Fluxys, Dutch-based Gasunie and Spain’s Enagas; Romanian state-owned Transgaz with France’s GRTgaz; Spain’s Regasificadora del Noroeste; Integrated Utility Services (USA); and PowerGlobe LLC (Qatar).

The Romanian state/own monopoly Transgaz is well placed in this race, taking into account the role played by the Romanian company in the development of interconnection infrastructure in the countries of Central and South-Eastern Europe. Transgaz is an active promoter of the BRUA pipeline and of the “vertical corridor” that would link transport systems in Romania, Hungary, Austria, Bulgaria and Greece to allow the transport of natural gas from the Caspian region to Central Europe.

Consortiums from outside of the European Union which are not members of the European Network of Transmission System Operators for Gas (ENTSOG) are not eligible under the terms of the tender. However, it is expected that as the tender progresses, they will work with a member of the association to try to become the preferred bidder.

http://www.ekathimerini.com estimates that the initial goal of completing the sale by the end of the year will be achieved, as the Regulatory Authority for Energy (RAE) has to take some crucial decisions relating to DESFA’s customer charges.

The Government in Athens has set 400 million euros as a starting price for the tender. This was what Azeri firm Socar offered in June 2013 for a 66 percent stake in DESFA. However, the Greek state will earn just under half of any amount agreed as its stake amounts to 31 percent, while the other 35 percent is being divested by Hellenic Petroleum.