EU & WBs / Albania Energy Investment Updates

EU & WBs / Albania Energy Investment Updates

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Greece, Azerbaijan discuss sale of DESFA’s shares 13 AUGUST 2015

AEI Updates August 2015Posted by Adv. Lorenc Gordani, PhD Fri, August 14, 2015 18:23:12

Baku, Azerbaijan, Aug. 13

By Azad Hasanli – Trend:

Greece and Azerbaijan discussed the sale of a package of shares of DESFA gas transportation system operator to SOCAR (State Oil Company of Azerbaijan).

This issue was discussed at a meeting of Greek Minister Panos Skurletis with SOCAR Energy SA Greece director general Anar Mammadov, the ministry of industrial reform, environmental protection and energy of Greece said.

During the meeting the minister stressed the positive attitude of the government in the field of energy cooperation with Azerbaijan.

On the same day Skurletis met with Ian Bradshaw, the managing director of the Trans Adriatic Pipeline (TAP) consortium, Michael Hoffman, the external affairs director and Rikard Scoufias, TAP Country Manager for Greece.

The sides reviewed the technical issues and agreed to hold a meeting soon to discuss and resolve the remaining issues to intensify the further actions that will allow beginning the design work for TAP in Greece.

Greece’s government is considering the sale of 49 percent share in DESFA to SOCAR.
SOCAR won a tender in December 2013 on the sale of the 66 percent share in DESFA for 400 million euros.

Currently, the deal is being considered by European Commission’s Directorate-General for Competition, and the procedure will last until late 2015.

In November 2014, the European Commission started an inquiry into the compliance of the deal on acquisition of a stake in DESFA with the EU’s regulations.

The company is currently carrying out work as part of ensuring the Azerbaijani gas supplies to Europe.

Work is underway in this regard within the second stage of development of the Shah Deniz offshore gas and condensate field, and for expansion of the South Caucasus Pipeline.
Aside from that projects are being developed for construction of the Trans Anatolian Natural Gas Pipeline (TANAP) and the Trans Adriatic Pipeline (TAP).

TAP will transport natural gas from the giant ‘Shah Deniz 2’ field in Azerbaijan to Europe.

The approximately 870 km long pipeline will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy.

The pipeline’s construction is expected to start in 2016.

TAP’s initial capacity will be 10 billion cubic meters per year, expandable to 20 billion cubic meters per year.

TAP’s shareholding is comprised of BP (20 percent), SOCAR (20 percent), Statoil (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).



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