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Transgaz, favourite to take over Greek natural gas transport operator

de Vladimir Ionescu , 2.4.2018

The US and the EU support Transgaz-Reganosa (Spain) offer to take over the Greek natural gas transport operator DESFA, for geopolitical reasons, the Greek media said.

The Greek media speculates that the European Union and the United States support for geopolitical reasons the offer of the consortium consisting of the Spanish company Regasificadora del Noroeste (Reganosa) and the operator of the Romanian gas transport system Transgaz to take over the Greek counterpart DESFA, the reason being that a possible victory would increase chances to reduce Europe’s dependency on gas imports from the Russian giant Gazprom.

The inclusion of the international financial institution The European Bank for Reconstruction and Development (EBRD), where the US and the EU are the largest shareholders, in the Transgaz-Reganosa consortium sends a clear message from Brussels and Washington to the Romanian company Transgaz. The move is decisive for the development of the vertical gas interconnection corridor in Romania, Hungary, Austria, Bulgaria and Greece, which would ensure the transport of natural gas extracted from the Caspian Sea region to Central Europe, reads the Greek publication Ekathimerini.

The development of this corridor would strengthen Europe’s alternative sources of gas supply bypassing Russia.

Transgaz’s General Shareholders Meeting approved in January the association with Regasificadora del Noroeste for the participation in the second stage of the acquisition of the 66% stake in the pipeline operator from Greece.

Transgaz’s relationship with the Greek national gas pipeline operator is older – in 2016 the two entities signed a memorandum aimed at jointly addressing the existing and future gas transport projects in full compliance with the European Union (EU).

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