DW: EU probes Azeri purchase of Greek gas firm

The European Commission said Wednesday it had started 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) would be in line with the bloc's merger regulations. It said SOCAR had offered 400 million euros ($500 million) to secure a majority stake of up to two-thirds in DESFA.

SOCAR's activities include the production of natural gas and the upstream sale of gas in Greece. DESFA owns and operates Greece's sole high-pressure gas pipeline and its only LNG terminal.

The EU executive noted it had concerns that the planned deal might reduce competition on the upstream wholesale supply market for natural gas in Greece as it could allow the merged entity to hinder SOCAR's competitors in accessing the Greek gas transmission network.
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