The Azeri company proposed reducing the price of its investment, whose initial amount was €400 million. The proposal “was legally unfeasible and would cancel the tender,” a statement from Greece’s Energy Ministry said.
“The Greek government will decide on how it will re-launch the tender next week after consultation with its international creditors,” an energy ministry official said.
Interfax agency reports citing to Greek Energy Ministry that SOCAR refused privatization of DESFA.
Greek energy minister Panos Skurletis said in his twitter account: “SOCAR’s disobeying the European legislation and terms of competition failed DESFA privatization”.