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Snam, partners close purchase of 66% stake in DESFA, Greek regasification plant

A consortium of European companies that includes Snam SpA, Enagás SA and Fluxys SA announced Dec. 20 it has completed the acquisition of a 66% stake in DESFA SA, the Greek operator of the natural gas transport network, for an amount of €535 million.

DESFA, a regulated company, owns and operates a transport network of approximately 1,500 kilometers of high pressure pipelines and a regasification plant in Revithoussa, Greece.

The consortium, which is owned 60% by Snam, 20% by Enagás and 20% by Fluxys, closed the purchase through the new company Senfluga Energy Infrastructure Holdings.

Accounting for the 66% stake that changed hands was a 35% interest held by Hellenic Petroleum SA and a 31% interest held by the Hellenic Republic Asset Development Fund SA. The government of Greece will retain ownership of the remaining 34%.