Reuters reported on Monday afternoon that Azerbaijan's state energy company Socar has renewed its letter of guarantee for Greece’s natural gas grid operator (DESFA) by one month.
Reuters reported on Monday afternoon that Azerbaijan's state energy company Socar has renewed its letter of guarantee for Greece’s natural gas grid operator (DESFA) by one month.
The news agency sites sources from within Greece’s privatization fund (HRADF or TAIPED).
The letter of guarantee was set to expire on Monday.
Socar is the highest bidder in an international tender for a 66-percent stake of DESFA, with a bid of 400 million euros.
The deal, however, has faced obstacles raised by the EU's competition authorities and Socar’s objections to recent Greek legal changes in the energy sector framework, changes it says reduce the operator’s value.