The Copelouzos group’s Damco has agreed to buy a minority 10 percent share of Senfluga, a consortium formed by Snam, Enagas and Fluxys for the acquisition of a 66 percent stake of Greek gas grid operator DESFA last year, all sides involved have confirmed in a joint statement. The agreement was reached for a price of 56 million euros, sources informed.

Until now, Snam held a 60 percent stake in Senfluga, while Enagas and Flyxys have each held 20 percent shares. This consortium bought a 66% share of DESFA for an amount of €535 million last year.

“The Damco investment is the result of long and constructive dialogue between the two sides and has been built in accordance with the same terms and conditions applied for Senfluga’s acquisition of [the 66 percent] DESFA [stake] and in compliance with the existing regulatory framework,” the statement noted.

The agreement reflects a wider collaboration established between the Copelouzos group and the three European companies for international natural gas infrastructure projects.

Just months ago, Damco submitted a joint bid with Snam, Enagas, as well as Gaslog, to a tender for construction of LNG import infrastructure in Cyprus.