Belgians to receive funding from EIB to get minority stake in DESFA

Belgians to receive funding from EIB to get minority stake in DESFA

Athens, December 17, 2015/Independent Balkan News Agency

By Olga Mavrou

The  belgian consortium Fluxys, which is interested in acquiring a minority stake in  the Greek natural gas transmission system operator  DESFA (which is under  privitization) will be funded to this end by Marguerite Infrastructure Fund – a fund under the sponsorship of the European Investment Bank. According to the Belgian newspaper “De Tijd”  Fluxys is interested in Desfa because of its geostrategic significance – it is consider as a potential  hub in transit gas transportation  from Middle East and Caspian regions to Europe. Fluxys furthermore  is already  involved in the construction of TAR pipeline that crosses Greece.

The potential strategic importance of DESFA and the involvement in TAR are the main reasons Fluxys insists on buying shares though a major shareholder of Fluxys disagrees – the Canadian Caisse de depot et placement du Quebec.  In order to get involved in the project, Fluxys intends to get the shares indirectly, through its investment company FPIM jointly with the holding company Publigas.