Send to Kindle
File photo
The Greek government has favorably changed privatization conditions for gas company DEPA in a procedure where the sole large bidder is Russian gas giant Gazprom.
The move is seen as making Gazprom the almost certain winner of the bid, the deadline for which comes Wednesday.
Greece has halved the required deposit to 10% of the company's bid for DEPA.
The Russian company has offered EUR 900 M for the acquisition of the Greek gas firm, to which it supplies 60% of its natural gas needs.
Gazprom's bid is seen as part of a wider Russian strategic investment program in financially troubled Greece.
Some have also said that the acquisition of DEPA might harm the EU's energy interests in the region.
A smaller participant in the tender the Greek M&M Gas - consortium between Motor Oil and Mytilineos, which is DEPA's competitor in the Greek market - has offered EUR 550 M.
Greece hopes to sell its gas company to meet its target of EUR 2.6 B revenue from privatizaiton, in order to avoid additional austerity measures.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
A nationwide strike in Greece has brought the country's transport networks to a standstill, affecting railways, ferries, buses, taxis, and more
In a bold move to amplify their demands for higher wages and better working conditions, journalists across Greece have embarked on a 24-hour strike, effectively halting news broadcasts for the duration
In a demonstration of solidarity and protest against the government's economic policies, media workers across Greece have initiated a 24-hour strike, aligning themselves with the call for protests issued by labor unions
Greek authorities have taken proactive measures as they announce the commencement of the forest fire season, as reported by the Greek publication Kathimerini
In a bid to uphold the principle of free access to beaches, Greek authorities have implemented strict regulations, warning of hefty fines for violators.
With the aim to bolster renewable energy infrastructure, the European Commission has greenlit funding of 1 billion euros for two key projects in Greece
In a bid to enhance its energy security and diversify its gas supply sources, Bulgargaz is gearing up for the first deliveries of liquefied gas through the Alexandroupolis terminal, set to commence in May
The Greek national electricity company, PPC, has announced plans to acquire 500 megawatts of photovoltaic capacity in Bulgaria
Oil prices have surged due to renewed concerns about the Middle East conflict. Brent crude futures increased by 0.32% to 90.80 USD per barrel, while American WTI crude rose by 0.3% to 86.50 USD per barrel
Bulgaria's state-owned energy company, "Bulgargaz," has suffered a significant setback, losing 27% of its market share as a result of a contract with the Turkish company "Botas"
A remarkable shift in Bulgaria's energy landscape has been unveiled in the latest report from the Commission for Energy and Water Regulation, submitted to the Bulgarian parliament
Natural gas prices in Europe experienced a significant spike, surpassing 2% to reach 29 euros per megawatt-hour (MWh) on Monday
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022
