SOCAR expects arguments from Greek government - UPDATED

There were actions contrary to the tender process in DESFA's privatization, rules negotiated in advance violated


Baku. 5 September. REPORT.AZ/ There were actions contrary to the tender process in Greece gas grid operator of DESFA, the rules negotiated in advance were violated. 

Report informs, President of the State Oil Company of Azerbaijan Republic (SOCAR), Rovnag Abdullayev said. 

According to him, now SOCAR expects substantiation from the Greek government.


'Cost of DESFA should be twice lower according to the amended rule. If profitability is lowered, the company's cost shouldn't be the previous. Currently, talks are being held with the Greek government', SOCAR President said.

According to him, in addition to SOCAR, Italian Snam company also participates in the talks.

As for whether SOCAR refuses from acquiring DESFA, R.Abdullayev noted that SOCAR has won the tender and will not refuse: 'We will protect our right to the end', he added.

In 2013, SOCAR has won international tender for sale of 66% stake in DESFA for 400 million EUR. Subsequently, however, the European Commission expressed concern about the agreement and started investigations. The Greek government, on the basis of the principle of non-monopoly, offers to sell 17% stake in DESFA to third party. Italian Snam is interested in purchasing of 17%.

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