neftegaz.ru
Greek Government Amendments on DESFA Deal «Unprecedented»
The amendment made by Greek energy ministry that severely reduces DESFA’s leeway for network usage hikes and, by extension, the operator’s revenue potential, is an “unprecedented” move, Azerbaijan’s ambassador to Greece Rahman Mustafayev said in an interview to Greek weekly To Vima.
But he noted that even so, SOCAR remains interested in the DESFA deal, adding that he hopes the privatization can be swiftly completed.
“The operator’s market value has been reduced and the risk level has increased, which is why we expect specific moves from the Greek side in order to cover the damages caused,” Mustafayev said.
On Monday, president of SOCAR Rovnag Abdullayev told reporters that SOCAR is not going to abandon the purchase of a share in the Greek gas operator DESFA.
“We won the tender and we’re not going to abandon the deal [with DESFA],” Abdullayev said. “We don’t talk about appealing to a court, but we will defend our interests till the end. The originally negotiated rules have been violated. We are now waiting for justification from the government of Greece. Under the new rules, DESFA’s value should be twice cheaper, so we are in talks with the Greek government.”
SOCAR won a tender in 2013 on the purchase of a 66-percent stake in DESFA for 400 million euros.
Earlier, Azerbaijan's Energy Minister Natig Aliyev said that the deal on SOCAR's purchasing the 66-percent share in Greece's DESFA will be completed after Italy's Snam purchases 17 percent of that share. Regarding Italy’s Snam, the company, just like SOCAR, is in talks with the Greek government regarding the situation, Abdullayev said.
In July 2016, Greek Minister of Environment, Energy and Climate Change Panos Skourletis accused the European Commission of delaying the deal on selling a share in Greece's DESFA to SOCAR. Skourletis said that a number of conditions, set by the European Commission, greatly slowed the privatization process of the gas operator.
In particular, the company will become a passive shareholder, not entitled to vote in the management of the company, as a result of decreasing SOCAR’s share in DESFA up to 49 percent.
Greek MPs stressed that the problems with the privatization of DESFA may deprive the country’s economy of SOCAR’s huge capital injections. –0--
Economics
-
The minimum wage in Azerbaijan, currently set at 345 manats, will be increased at the beginning of 2025 to meet the country’s international obligations. This was announced by economist and Member of Parliament Ali Mansimli during an interview with TV channel "24". According to him, the current minimum wage level does not meet the requirements of several international documents, which state that the minimum wage should be at least 60% of the average salary, which is 1000 manats. This means that the minimum wage in Azerbaijan should be 600 manats; however, it currently stands at only 34% of the average salary.
-
The Cabinet of Ministers of Azerbaijan approved a series of amendments on September 25, to the laws regulating the circulation of medicinal products, as part of the implementation of the "Law on Amendments to the Law on Medicinal Products of the Republic of Azerbaijan" adopted on July 14, 2023. These amendments aim to align national legislation with international standards and strengthen the regulation of pharmaceutical product circulation in the country.
-
The Ministry of Digital Development and Transport of Azerbaijan has approved a new regulation titled "Flight Operations Preparation Rule," aimed at enhancing the safety and efficiency of civil aviation activities. Decision number 3-27/3-7-16/2024 was adopted by the ministry’s collegium on September 12, 2024, in accordance with the law "On Aviation" dated December 22, 2023.
-
The Ministry of Digital Development and Transport of the Republic of Azerbaijan approved a comprehensive set of airworthiness regulations aimed at ensuring the safety and reliability of the country’s civil aviation sector.
Xaricdən gələn təhlükələrə qarşı necə mübarizə aparmalı?- Əhməd Əlili Çətin sualda
News Line
-
- Social,
- 11:49
- 384
Leave a review