Reactions after the DEPA agreement failure

Referring to the issue of the debts of private individuals to DEPA, which is reportedly one of the main reasons for the failure of the agreement with Gazprom, TAIPED president Stelios Stavridis said "we have offered guarantees on these debts" and that their existence would have justified a price reduction but not withdrawal. However, TAIPED clarified that in order to achieve the maximum possible price for DEPA, the Fund has vowed to cover these debts up to 180 million euros, while giving adequate and binding assurances for the non-worsening of the DEPA situation from the awarding of the competition to the acquisition of shares by the buyer.

He argued that the Fund had taken all necessary steps to maximize competition but "the Russians chose not to come for reasons we do not know."

Speaking about the progress of the competition Stavridis said, "it is not the end of the world, nor does it prejudge the future. There are alternatives," and added that the Fund will now proceed to a new contest.

Although originally it announced via its the representative that "we have not received adequate assurances that the financial situation of DEPA will not deteriorate after the completion of the agreement," then the Russian energy giant appeared reassuring about the company's future in Greece. "We have no intention to abandon the Greek market. Rather, we will strengthen our presence. Greece is and will remain a strategic partner. We plan to further expand our cooperation in the energy sector," Medvedev said.

The Greek government will relaunch the competition for the privatization of DEPA "with terms that will generate investor interest," Environment minister Assimakis Papageorgiou said after the decision by Russia's Gazprom not to submit a bid for the Public Gas Corporation.

Papageorgiou said that the next competition "will have better conditions for greater participation" and described as positive the fact that an offer for DESFA was made by the Azeri company Socar.