By Edwig Ban
The operator of the Romanian gas and gas transmission system, Transgaz, wants to associate with the Spanish company Regasificadora del Noroeste (Reganosa) to participate in the privatization process of the Greek gas pipeline operator, DESFA, according to Transgaz documents.
Thus, the Transgaz shareholders are convened to approve at the meeting on January 18 an agreement between the two companies and a memorandum of understanding on the association to participate in the second stage of the acquisition of 66% of the shares of DESFA. Reganosa will be a consortium leader.
Initially, on June 26, 2017, Transgaz signed a participation agreement with the French from GRTgas SA, but this association was not qualified in the second stage of the privatization process of DESFA, according to documents published by Transgaz.
'On 22 September 2017, the Fund (for the Development of the Hellenic Republic's assets - No) announced the qualification in the second stage of the acquisition procedure, on the one hand, the Regasificadora del Noroeste and, on the other hand, a consortium formed of Snam SpA / Enagas Internacional SLU / Fluxys SA / NV Nederlandse Gasunie '.
The deadline for submitting bids is 16 February 2018. At the same time, it is not excluded that other companies join the Reganosa-Transgaz consortium in the next period to increase its negotiating power in the privatization process of DESFA.
The transaction value is estimated at 400 million euros.
This is the second attempt by the Greek state to privatize DESFA after an agreement previously concluded with the SOCAR company in Azerbaijan has failed, amid some misunderstandings over the natural gas tariff.
DESFA reported sales of 170 million euros for 2016 and a net profit of 34 million euros. The value of its fixed assets is approximately 1.3 billion euros.