Gazprom Cleared for Depa Tender

The Greek state privatisation agency has confirmed that Russian major supplier Gazprom has been cleared to bid a tender for a stake in the Greece's national gas company Depa.

The agency told Russian newspaper Ria Novosti that Gazprom had been approved to bid for a majority stake in the company, which has put on the block in order to raise money for the government, to the tune of €19 billion by 2015.

A 55 per cent stake, a large portion of the government's current stake in Depa, is up for for grabs since February of this year. Bidding will officially close in May.

Gazprom has previously officially stated its interest in bidding for the company, aiming to deepen its current standing and relationships in the country's energy sector.

The company currently has  a strong interest in the country having supplied approximately 2.9 billion cubic metres of gas to Greece last year.

Gazprom joins a wealth of other interested investors, which the Hellenic Republic Asset Development Fund (HRADF), the agency handling the tenders, says numbers 17 so far. These investors come from 12 countries, only five of those in the Eurozone.

Earlier this week, Deputy Chairman of Gazprom Alexander Medvedev said the company had submitted a preliminary bid for Depa.

"We have submitted a preliminary bid and are hoping that we will pass the qualification process," he said. "The price we will offer will be completely real; we will not overpay."