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Greece asks the European Commission to speed up the approval of the transaction by the gas company DESFA

09 December 2014 23:14 (UTC +04:00)

The State Oil Company of Azerbaijan (SOCAR) has acquired 66% stake in DESFA for 400 million euros, having won a tender in June 2013. The European Commission has not yet approved the deal. Baku says company DESFA key project Trans Adriatic Pipeline (TAP, TAP) for the supply of gas from Shah Deniz through Turkey and Greece to the south of Europe.

Greek media reported on October 2 that Greece Energy Regulator (RAE) allows the transfer of DESFA to Azerbaijani side. The decision was taken after consultation with the European Commission and other obligations DESFA, as the majority of the shares transferred to companies outside the European Union.

However, the European Commission announced on November 5 that studies the deal on antitrust legislation and compliance "has opened a comprehensive investigation." EC fears that it will worsen the situation of competition in the gas sector in Greece. The Commission shall take a decision to March 23, 2015.

"During the meeting between Maniatis and ŠefÄoviÄ was discussed the process of approval of the transaction responsible services of the European Commission, namely the Directorate General for Competition on November 5, which asked for three months to further examine the compatibility of the transfer to the new owner DESFA with European competition rules," - said Yannis Maniatis.

Greek minister said that the Greek authorities have cooperated with the Directorate General for Energy and all procedures are fully compatible with both national legislation and with the third energy package. "Maniatis asked Vice President assist accelerate the approval of the transaction and expressed the desire of the Greek government to make a decisive contribution in this direction," - said the minister.

The so-called third energy package limits the ability of companies producing and selling gas in the possession and use of gas the European Union. In particular, the EC opposed the construction of the pipeline "South Stream" because of its alleged non-compliance to the third energy package.