Italgas to enter Greek market - KATHIMERINI

15.11.2019 : 16:03

CHRYSSA LIAGGOU

Italy’s biggest natural gas distribution company, Italgas, is on the verge of entering the Greek market.

Kathimerini understands that Europe’s third largest gas distributor is very close to reaching an agreement with fellow Italian Eni Gas e Luce for the acquisition of the latter’s portfolio in the Greek gas grid.

Eni Gas e Luce is a subsidiary of oil giant Eni and is active in electricity and gas retail in Greece through ZeniTH (formerly known as Thessaloniki and Thessaly Gas Corporation). It also has a 49 percent holding in Thessaloniki gas distributor EDA Thess, which is 51 percent owned by Public Gas Corporation (DEPA).

Greece's DEPA to sell stake in gas supplier to Eni - REUTERS

MAY 16, 2018 / 5:51 PM

ATHENS (Reuters) - Greece’s biggest gas company DEPA said on Wednesday it had agreed to sell its holding in a local gas supplier to Italy’s Eni (ENI.MI) for 57 million euros ($67 million).

Under the agreement, state-controlled DEPA will sell its 51 percent stake in Thessaloniki-Thessaly Gas. Eni already holds a 49 percent stake in that company.

Under a bailout-sanctioned scheme to unbundle gas supply from distribution and boost competition in the industry, Greece needs to eliminate potential conflicts of interest between DEPA and domestic gas suppliers.

DEPA will stay in the broader Athens region but will pull out of the rest of Greece.

DEPA is also in talks to buy out Shell’s (RDSa.L) 49 percent stake in another gas supplier, Attiki Gas Supply Company, and a gas distributor in Athens and become the sole stakeholder in the two companies, sources close to the matter told Reuters.

One of the sources said the deal could be worth about 150 million euros.