Edison, Hellenic Petroleum considering joint bid for DEPA's Natural Gas Commerce subsidiary

Wednesday, 18 December 2019 18:33
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By K. Deligiannis

Italy's Edison is reportedly ready to propose another joint consortium with Hellenic Petroleum (Hel.pe) in order to submit a binding offer for Greece's state-run Public Gas Corp.'s (DEPA) Natural Gas Commerce subsidiary, with a relevant international tender to commence in January 2020.

Edison and Hel.pe are already in a successful partnership in Greece, Elpedison, which is mostly a retail and wholesale electricity provider, as well as a budding power producer and natgas provider.

According to top sources from within the ATHEX-listed Hel.pe, a partially state-owned petrochemical concern, if the group successfully acquires Natural Gas Commerce by itself, it will then face a conflict of interest with Elpedison.

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