Russia sees SOCAR as main rival of Gasprom company at Greek company

In struggle for the European gas market Gasprom will have to experience resistance of the European Union and the US, which do not like to reconcile themselves with the dominating role of the Russian concern. Gasprom offered 1.9 billion Euro for the Greek state gas company DEPA. State Oil Company of Azerbaijan (SOCAR) can win the tender, despite the maximum price offered by Gasprom, because SOCAR supports Nabucco project, which is of vital importance for the European Union, writes Nezavisimaya Gazeta (NG).

NG experts wrote that situation is not easy for Russia. Greek market is very interesting, considering that with purchase of DEPA Gasprom can actually monopolize it.

Valerii Nesterov, analyst of Sberbank CIB, is not optimistic. "Gasprom has offered a maximum price of 1.9 billion Euro, considering that earlier it was the matter of the sum between 1 and 2 billion Euro for the both companies. Price is very attractive for Greece, but it is too early to say that the decision will be made in favor of Gasprom." First of all, Brussels will exert a significant pressure on Greece, because sale of DEPA to Gasprom goes against the spirit of the Third Energy Package, Nesterov said. Proposal of SOCAR is more interesting for the EU. The US pressure will be another factor.

"As minimum three options are possible in this situation. The first one - Greece sells its company to the Russian concern. The second one - SOCAR wins the bids, because in the future Azerbaijan is going to deliver 20-25 billion cub.m. of gas a year to Europe and part of this amount will be delivered to Greece. The third one - the auction could be postponed till the later term to interest and involve more powerful western companies, such as Total, Shell and others," said Russian analyst.