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Greece Cancels DESFA Stake Sale to Azerbaijan's Socar

The Greek government on Wednesday cancelled the sale of a 66 percent stake of the Hellenic Gas Transmission System Operator (DESFA) to Azerbaijan's Socar. The energy ministry announced that the Azeri company's proposal to reduce the price of the sale...

DESFA Sale Puts Strain in Greece-Azerbaijan Business Relations

The apparent failure of the agreement between Azerbaijan’s State Oil Company (SOCAR) to buy 66% of Greece's natural gas distribution network (DESFA) is putting a strain between Athens and the Azeri government. According to a real.gr report, Azeri authorities are dissatisfied...

Azeri Gas Company Says No to Greece on Gas Pipeline Deal

The Azeri state energy company SOCAR said no to Greece on three requests made by new Greek Minister of Productive Reconstruction Panagiotis Lafazanis regarding the new Trans-Adriatic Pipeline (TAP). In his recent visit to Baku and his meeting with President...

Greek Deputy Energy Minister: Natural Gas Prices to Fall by 20% in Q1 2015

Natural gas prices for industrial and household users are expected to fall by 20% in the first quarter of 2015 as a result of falling international oil prices, Greek Deputy Environment, Energy and Climate Change Minister Makis Papageorgiou said...

European Commission to Investigate Merger of Greek and Azeri Gas Transmission Companies

The European Commission has just started an in-depth investigation in order to assess whether the proposed acquisition of Greek public gas transmission system operator DESFA by the State Oil Company of Azerbaijan Republic (SOCAR) is in accordance with the...

Samaras Meets With Azeri President in Baku

Greek Prime Minister Antonis Samaras met on Friday night with BP Group Chief Executive Robert Dudley during his visit to Baku as one of several country leaders attending events related to the natural gas pipeline in Azerbaijan. Earlier, Samaras attended a...

Greece Wants Azeri Gas Investment, TAP

  With privatization and foreign direct investment lagging, Prime Minister Antonis Samaras has discussed the sale of the country's gas transmission network DESFA with visiting Azerbaijan President Ilham Aliyev, and the construction of the the Trans Adriatic Gas Pipeline (TAP)...

Greece Seals Natural Gas Privatisation Deal with Azeri Company

Azeri state energy company Socar signed on Saturday afternoon in Athens the agreement for the acquisition of a 66 percent stake in Greece's natural gas transmission network operator DESFA. The ceremony took place in the presence of Energy Minister Yiannis...

SOCAR Acquires Slice of Greek DESFA

Socar (the state oil company of Azerbaijan) has acquired a 66% share in the Greek natural gas transmission network operator (DESFA). This agreement is significant in terms of gas supplies to Europe from Azerbaijan. The President of Socar, Rovnag Abdullayev will arrive...

TAP Gas Through Greece to EU

The Trans-Adriatic Pipeline (TAP) is set to be announced by the Shah Deniz consortium - BP, Azeri state oil company SOCAR and France’s Total -  on June 28 as the winner to carry Azerbaijan’s gas via Greece and Albania...