Snam-led consortium with majority stake in DESFA briefs Tsipras on strategic plans

Marco Alvera, managing director of Snam, the company leading the consortium that bought a 66% stake of the Hellenic Gas Transmission System Operator SA (DESFA), presented the group’s general strategy plans to Prime Minister Alexis Tsipras on Friday.

The consortium, which paid 535 million euros for the acquisition, includes Enagas and Fluxys.

The consortium’s plans for the company will focus on promoting Greece as a hub for natural gas transport and trade, and in developing the company’s capabilities in liquefied natural gas (LNG) and compressed natural gas (CNG).

Snam officials said separately that the consortium’s plans in Greece include some of the following: biomethane production, which will reduce the reliance on coal and is more environmentally-friendly; the use of LNG in heavy trucks and in shipping; effective logistics chain in the Mediterranean region; the supply of remote Greek areas with CNG, furthering the economic development of the country and fitting in the national targets of viable growth; and technical and operational know-how for DESFA as well as more access to funding sources for old and new connections.