Bulgaria May Seek More Time To Reply To Gazprom Concessions - RIGZONE / REUTERS

Monday, April 24, 2017

Tsvetelia Tsolova; editing by Mark Potter

SOFIA, April 24 (Reuters) - Bulgaria may need more time to respond to concessions proposed by Russian gas giant Gazprom in an EU antitrust case, its energy minister said on Monday, adding that while Sofia saw the concessions as positive it would like to see them expanded.

A provisional agreement announced last month would see Gazprom avoid a fine of up to 10 percent of its global turnover over EU charges it abused its dominant market position and overcharged clients in eight eastern European nations.

The deal is subject to feedback from EU states and market players that should be sent by May 4 and could still be amended or even abandoned.

EC reports Gazprom commitments on supplying gas to eastern Europe - OIL & GAS JOURNAL

WASHINGTON D.C., 03/13/2017

Nick Snow, OGJ Washington Editor

Russian natural gas giant Gazprom has made significant commitments to supply gas to customers in eastern and central Europe at competitive prices, the European Commission reported in Brussels.

The commitments “address our competition concerns and provide a forward-looking solution in line with [European Union] rules. In fact, they help to better integrate gas markets in the region,” EC Competition Policy Commissioner Margrethe Vestager said.

In April 2015, the commission sent a Statement of Objections expressing its preliminary view that Gazprom had been breaking EU antitrust rules by pursuing an overall strategy to partition central and eastern European gas markets.

Vestager said the commission now feels that the commitments Gazprom offered cover the EC’s competition concerns by ensuring that:

SOCAR to extend guarantee letter for purchase of Greece's DESFA - KATHIMERINI / REUTERS

Tuesday September 27, 2016

Azerbaijan’s state energy company Socar has agreed to extend a letter of guarantee for its acquisition of Greek gas network operator DESFA by a month, the office of the prime minister said on Tuesday.

The guarantee letter was due to expire on Friday and Socar had previously said it would only go ahead with the deal if the cost was cut significantly, given that a number of snags had emerged since it first agreed to buy DESFA in 2013.

Socar president Rovnag Abdullayev met Greek Prime Minister Alexis Tsipras on Tuesday to discuss the issue and the Greek statement said the meeting took place in a “positive atmosphere.”

Azerbaijan's SOCAR to hold Greek gas grid deal talks in Athens - REUTERS

Fri Sep 23, 2016 11:50am GMT

BAKU, Sept 23 (Reuters) - Azerbaijan's state energy company SOCAR plans to hold talks with Greek officials over a deal to buy Greek natural gas pipeline operator DESFA, SOCAR's president said on Friday.

In 2013, SOCAR agreed to 66 percent of the crisis-hit gas supply grid operator for 400 million euros ($448.5 million). But the deal stalled after SOCAR was ordered to sell 17 percent of DESFA to a third party to satisfy EU competition authorities.

Complicating the sale further, Greece passed a law in July raising DESFA's gas tariffs from next year by a much lower amount than expected.

"Our delegation will hold negotiations in Greece on September 27-28," Rovnag Abdullayev told reporters.

Azeri SOCAR says wants Greek natural grid purchase concluded - REUTERS

Sat Sep 3, 2016 4:41pm GMT

ATHENS, Sept 3 (Reuters) - Azerbaijan's state energy company SOCAR wants to go ahead with a deal to buy Greek natural gas pipelines operator DESFA and has not taken any decision to pull out of the process, its chief executive in Greece said in a newspaper interview published on Saturday.

SOCAR agreed in 2013 to buy a 66 percent stake in the crisis-hit gas supply grid operator for 400 million euros ($448 million). But the acquisition has stalled since SOCAR was ordered to sell on 17 percent of DESFA to a third party to satisfy the EU competition authorities.

Complicating the sale further, Greece passed a law in July which raised DESFA's gas tariffs from next year by a much lower amount than expected, a move which SOCAR said has dramatically reduced DESFA's value and put the deal at risk.

Media report: Socar deal for Greece natgas grid on shaky ground - NAFTEMPORIKI

Thursday, 21 July 2016 12:48
REUTERS/DAVID W CERNY

The leftist Greek government appears unwilling to withdraw draft legislation amending the framework for natural gas tariffs in the country, despite a warning by Azerbaijan's state-run Socar that possible changes will jeopardize a deal for Greece’s natgas grid.

According to a EurActiv report, which quoted an energy ministry official in Athens said this week, the Azerbaijan company worked out a deal with the previous Greek government in 2013 to buy a 66-percent stake in the country's natural gas grid operator DESFA for 400 million euros.