It’s reported that the DESFA assets reduced about €200 million after amendments made to the law with the initiative of Panos Skurletis and SOCAR was dissatisfied with this. Konstantinos Xifaras was also dissatisfied. Therefore, he resigned.
Along with this, Konstantinos Xifaras will be substituted by the Executive President of DESFA Sotiris Nikas. It’s interesting that Nikas has held a high position in DESFA with the support of Energy and Environment Minister Panos Skurletis.
*** 13.04
Baku. Agshin Rafigoglu - APA-Economics. The Chief Executive Officer at DESFA (Natural gas transmission system operator in Greece) Konstantinos Xifaras has resigned, APA-Economics reports citing to Greek media.
He has reportedly announced his resignation after meeting with Greek Energy and Environment Minister Panos Skurletis.
The Greek media says he resigned due to displeasure between SOCAR and Greek government.
On July 31, 2013, the Hellenic Republic Asset Development Fund approved the transaction on purchase of 66% of DESFA shares by SOCAR for €400 mln. In December, 2013, SOCAR and Greece's state privatisation fund and Petroleum companies signed Contract on Shareholders and the Share Purchase Agreement (SPA).
SOCAR purchases 31% share of DESFA from Greek government, 35% from Hellenic Petroleum SA. HRADF will control share package of the DESFA prior to the SOCAR takes over control on it. The delay in privatization is due to the fact that the Directorate-General for Competition of the European Commission is considering the issue on privatization of DESFA. Basing on antimonopoly principles, the Greece government offers SOCAR to sell 17% of its share to the third party.
Earlier, Director General of SOCAR Energy Greece Anar Mammadov said that Greek government made amendments to legislation with the initiative of energy minister in July: “This had negative impact on DESFA tariffs. We think DESFA value declined 40-50%. If these conditions remain unchanged, we are not so interested in DESFA on these conditions”.
SOCAR President Rovnag Abdullayev said Azerbaijan is waiting for Greek government’s proposal till September 30: “If the changes to tender procedure are contrary to the law, the DESFA privatization will be meaningless. We requested explanation from the Greek government, but no explanation was made”.
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