ELPE (Hellenic Petroleum), offering its entire 35 percent stake in natural gas grid operator DESFA to an imminent tender selling a 66 percent stake of the operator, is expected to request an independent evaluation of the gas operator, to be conducted on its behalf, as a parallel assessment to another evaluation for TAIPED, the state privatization fund, and the tender’s consultant.
ELPE’s participation in the imminent DESFA tender is expected to be officially approved at an extraordinary shareholders’ meeting on July 6.
ELPE plans to set a minimum price for its participation in the DESFA sale based on the results of its independent evaluation. If this mnimum price level is not reached, then ELPE’s shareholders will be requested to decide.
Current market conditions suggest that any prospective offers for DESFA will be less than the 400 million euros offered by Azerbaijani energy firm Socar in an unsuccessful previous tender selling 66 percent of the operator.
Italy’s Snam, a two-member partnership made up of Belgium’s Fluxys and Dutch firm Gasunie, and, possibly, Romania’s Transgas, are believed to be interested in the DESFA sale, according to the energy ministry, confirming a previous energypress report.