A cost-benefit analysis being prepared by the privatization fund TAIPED for the development of a gas storage facility at a virtually depleted offshore gas field south of Kavala is nearing completion.

This analysis is needed for the facility’s privatization procedure, whose first-round tender will most likely be launched early in the second half of this year, energypress sources have informed.

TAIPED and RAE, the Regulatory Authority for Energy, are currently exchanging information on project details ahead of the tender.

A joint ministerial decision – another privatization prerequisite – issued last month offers terms and conditions.

Once the cost-benefit analysis has been completed, RAE, according to the ministerial decision, will have four months to determine a pricing policy formula for the south Kavala facility.

Besides private-sector investors, gas grid operator DESFA operator and its shareholders will also be able to participate in the tender on equal terms. The project will operate independently, even if DESFA emerges as the winning bidder.