Media report: Socar deal for Greece natgas grid on shaky ground

21 July 2016
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The leftist Greek government appears unwilling to withdraw draft legislation amending the framework for natural gas tariffs in the country, despite a warning by Azerbaijan’s state-run Socar that possible changes will jeopardize a deal for Greece’s natgas grid.

According to a EurActive report, which quoted an energy ministry official in Athens said this week, the Azerbaijan company worked out a deal with the previous Greek government in 2013 to buy a 66-percent stake in the country’s natural gas grid operator DESFA for 400 million euros.

However, the acquisition has not been completed, with the report stating that Socar must divest 17 percent of DESFA to a third party in order to address EU anti-trust concerns.

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