Embarrassment for Greek government as natural gas firm privatisation fails

Greece was rocked on June 10 by the news that Russian energy giant Gazprom would not be tabling a bid for the country’s public gas company, DEPA.

Greece failed to attract any bids for the natural gas firm as a Greek consortium that has expressed an informal interest also dropped out of the race on the deadline day for binding bids.

Furthermore, Athens got just one bid (from Azerbaijan’s SOCAR) for natural gas grid operator DESFA – a DEPA unit that is being privatised separately – as Sintez, another Russian energy firm pulled out.

Gazprom explained its decision not to submit a bid for DEPA in a statement:

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