Fading hopes for SOCAR’s Greek gambit15 August 2016
Three years on from striking its deal to buy a stake in Greek transmission system operator DESFA, State Oil Company of Azerbaijan Republic (SOCAR) is still no closer to establishing a foothold in southeastern Europe. But while this may be a blow for Baku, it could be a shot in the arm for Gazprom.
SOCAR won a Greek government tender in July 2013 for the sale of a 66% stake in DESFA with a €400 million ($446.8 million) bid. However, the deal has still not been finalised.
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