Azerbaijan’s state oil company SOCAR made a decision to extend the term of a letter of guarantee on the tender to buy a 66-percent stake in the Greek national gas transmission system operator DESFA for another month, Anar Mammadov, SOCAR Energy Greece executive director, reported.
“We are trying to find a mutually acceptable solution”, he added.
In September SOCAR already extended the term of a letter of guarantee on the tender to buy a 66-percent stake in DESFA until October 31.
SOCAR won a tender in 2013 on the purchase of a 66-percent stake in DESFA for 400 million euros.
The Azerbaijani company will obtain 31% from the Greek government and will buy the complete package of 35% of the Hellenic Petroleum.
It is expected that the deal will be closed only after the purchase of at least a 17-percent stake out of SOCAR’s 66-percent stake by Italy’s Snam. (Trend/Business World Magazine)