Bank Of Baku

Only Russia and Azerbaijan really interested in purchase Greek Gas Company DEPA

Only Russia and Azerbaijan really interested in purchase Greek Gas Company DEPA
# 06 November 2012 14:15 (UTC +04:00)
Baku. Vahab Rzayev - APA-Economics. Russian energy companies Gazprom and Sintez and Azerbaijan’s state-owned SOCAR are the main bidders for Greek gas company Depa, three people familiar with the situation said Monday, The Moscow Times reported.

Greece hopes to sell all of the company by the first quarter of 2013, the sources said.

The deal could help the nearly bankrupt country raise up to 1 billion euros ($1.28 billion). Greece holds 65 percent of Depa, and the remainder is owned by Hellenic Petroleum.

Gazprom, Sintez and SOCAR emerged as the most dominant energy players in the tender, which has not attracted major Western European bidders.

Italy’s Eni, France’s Edison and Spain’s Gas Natural and Enagas stayed away, most likely put off by Greece’s risky economic outlook, two of the sources said.






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