Greece sees gas grid deal with Azeri SOCAR progressing

Baku. 26 August. REPORT.AZ/ Azerbaijan's state-owned oil company SOCAR had confirmed its interest in acquiring a stake in Greek gas grid operator DESFA, with a deal possible by the end of the year, Greece's privatisation agency said on Wednesday, Report informs citing Reuters.

The potential deal, which has been negotiated since 2013, would involve SOCAR buying a 66 percent stake in DESFA for around 400 million euros ($457 million) from the Greek state and Hellenic Petroleum.

A Greek privatisation official has said that Athens was examining an option under which SOCAR would buy the stake and then divest at least 17 percent either to the Greek state or a third entity to address the EU's concerns.

Greece's privatisation agency HRADF and Hellenic Petroleum met SOCAR officials on Wednesday and all the parties reiterated their commitment to complete the deal as soon as possible, HRADF said in a statement.