SOCAR: Number of shares in DESFA to be sold is unknown

At the moment, negotiations and discussions are held on the subject

Baku. 6 January. REPORT.AZ/ State Oil Company of Azerbaijan (SOCAR) may sell part of the shares in gas distribution network operator DESFA. However, the number of shares not specified yet. Report was told in SOCAR.

"At the moment, negotiations and discussions on the subject are held", stated in SOCAR.

In 2013, SOCAR won the international tender for the sale of 66% shares of DESFA for 400 mln. euros.

However, European Commission expressed concern about the agreement and launched an investigation.The Greek government based on the principle of non-monopoly, offers to sell 17% stake in DESFA to third party.

The Italian company Snam, Belgian Fluxys and Spanish Enagas are interested in acquiring a stake in DESFA and sent an official appeal to the Hellenic Republic Asset Development Fund(HRADF) on this issue.

Recall that these companies are also represented in the consortium TAP, designed to ensure the delivery of Azerbaijani gas to Europe, produced within the second phase of "Shah Deniz". Share of SnamS.p.A. in the project is 20%, Fluxys - 19%, Enagas - 16%.

Recently, Greek media reported that SOCAR is ready to sell not 17% but 25% of its stake in DESFA to another company or group.

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