News and developments
Greece Gas Update: DEPA Privatization
The law provides for the separation and partial demerger of DEPA in such a way that, at the end of the procedure, the assets and activities of DEPA are divided into the following three companies:
- DEPA Infrastructure S.A. undertakes a) all DEPA’s distribution gas activities, including DEPA participation in Attica Gas Distribution Company S.A. (EDA Attica), EDA Thessalonikis – Thessalias S.A. and Public Gas Distribution Network S.A. (DEDA S.A.) which develops and operates the gas network fin the rest of Greece, b) DEPA’s ownership on the gas distribution network, c) the fibre-optic network owned by DEPA and d) the rights and obligations of DEPA with respect to the development, design and implementation of projects for the infrastructure of distribution networks, including compressed natural gas projects or small scale LNG projects;
- DEPA Commercial undertakes all current wholesale and retail gas activities, including, participation in Attica Gas Supply company S.A. (EPA Attica), import of natural gas in Greece (either through pipelines or LNG), through its long-term contracts or other source; refueling of vehicles with CNG through proprietary or partner service stations, including all relevant contracts and the use of the trademark FISIKON; supply to end consumers and or remote natural gas distribution networks, the rights and obligations arising from the agreement with DEPA’s participation in the capital of Gastrade S.A (subject to the approval fo the Hellenic Competition Commission). and
- DEPA International Projects, which will undertake, through a spin-off all international projects in which DEPA participates (either directly or through its subsidiaries) such projects includes Interconnector Greece-Italy, EastMed Project, Interconnector pipeline Greece – Bulgaria (IGB) and the projects which will be developed in the context of director o indirect participation of DEPA in companies developing and constructing these infrastructure interconnection projects with neighboring countries.