DEPA delivers completed split plan to energy ministry

Gas utility DEPA has forwarded a completed plan entailing a split of its infrastructure and trade interests into two separate companies to the energy ministry, now believed to be working on drafting a related law ahead of DEPA’s privatization.

As a result, the sale procedure for a majority stake in DEPA Trade could be launched within January.

Given the current activity, it can be presumed four issues that troubled officials have now been resolved.

Payroll terms for employees hailing from DEPA’s EPA and EDA Attiki supply and distribution partnerships, in which Shell held a 49 percent share, was one of the restructuring procedure’s four problem spots as private-sector labor market terms have applied for these personnel members. They will be ensured no payroll changes for at least one or two years following DEPA’s restructuring, sources informed.

Tax issues, the futures of DEPA’s external partners – 50 persons are employed as staff members and 150 as sub-contractors – as well as the consent of DEPA’s split plan by suppliers, including Gazprom and Sonatrach, which will essentially be dealing with a new company, are the other issues that have needed to be resolved.