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Azerbaijan : SOCAR plans to continue cooperation with EUROPEAN COMMISSION.

The State Oil Company of Azerbaijan Republic (SOCAR) has declared the plans to continue cooperation with the European Commission to conclude the process of acquisition Greece's gas transmission network operator Desfa by the company.

According to SOCAR, SOCAR appreciates the time, effort and resources that the Commission Services have dedicated and will continue to dedicate in this process. We will continue to cooperate constructively with the Commission to complete the process within the earliest possible period.

The European Commission stated that the European Commission has launched an in-depth investigation to assess whether the proposed acquisition of the Greek gas transmission system operator DESFA by the State Oil Company of Azerbaijan Republic (SOCAR), is in line with the EU Merger Regulation.

In the context of the recent notification by SOCAR to the EU competition authorities of its proposed acquisition of a 66-percent stake in DESFA, the Greek gas transmission system operator, SOCAR now understands that the Commission is opening a Phase II in-depth investigation into the proposed transaction , SOCAR further added.

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Publication:Mena Report
Geographic Code:9AZER
Date:Nov 7, 2014
Words:182
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