Romanian Transgaz interested to acquire Greek gas distribution network

Romanian gas carrier Transgaz Medias is interested in acquiring a 49% stake in the Greek group DESFA, which has been put up for sale by the Greek government, according to the Greek media. The stake is valued at some EUR 400 million. DESFA owns the gas distribution system and operates the only liquefied gas terminal in Greece, located in western Athens. The Azerbaijani company SOCAR withdrew its initial offer for the 49% stake in DESFA, unhappy with the price and the conditions imposed by the Greek authorities. Greek publication Kathimerini wrote that Transgaz is already in negotiations with several banks for financing its investment in Greece. The journalists also wrote that Transgaz is interested to buy the Greek gas distribution network because may be interested in creating the so-called Vertical Corridor, a pipeline that would transport natural gas from the Caspian Sea in Romania, Hungary, Austria, Bulgaria, and Greece. Transgaz is also involved in the EU-backed BRUA project, a new pipeline that would connect Bulgaria, Romania, Hungary, and Austria and would take the gas extracted from the Black Sea to Western Europe. editor@romania-insider.com