‘Green light’ from the Commission for the new shareholding structure of Gastrade

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The European Commission approved, based on the EU Merger Regulation, the acquisition of joint control of Gastrade by the National Gas System Operator SA. (“DESFA”), Asimina-Eleni Kopelouzou, DEPA Commerce for all of Greece, GasLog Cyprus and Bulgartransgaz EAD (“BTG”) of Bulgaria.

The European Commission, according to its announcement, clarifies that Gastrade is developing the floating liquefied natural gas storage (LNG) storage unit that will be installed off the coast of Alexandroupolis. Ms. Kopelouzou is the founding shareholder of Gastrade.

DESFA owns, operates, maintains, manages, exploits and develops the National Natural Gas System of Greece.

DEPA Commerce is active in the supply, wholesale and retail trade of natural gas in Greece. GasLog owns and operates LNG transport vessels.

BTG is a Bulgarian state-owned gas transmission and storage company in Bulgaria.

The Commission has concluded that the proposed acquisition will not cause competition problems, given: i) the presence of competing gas import facilities and ii) the current Greek regulations, including the prices charged by LNG terminals and the establishment of obligations to provide access to LNG terminals and the transmission system of DESFA. The operation was examined under the normal merger control procedure.

Source: AMPE

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Source From: Capital

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