DEPA

Not to be confused with Digital Economy Partnership Agreement.
DEPA
Native name
ΔΕΠΑ ΕΜΠΟΡΙΑΣ Μ.Α.Ε.
Dimósia Epicheírisi Aeríou (DEPA) Μ.A.E.
Typestate-owned enterprise
IndustryNatural gas
Founded1988
Headquarters
Irakleio, Athens
,
Greece
Area served
Southeast Europe
Key people
Antonios Diamataris (Chairman) Konstantinos Xifaras (CEO) (2019)
ProductsNatural gas
RevenueIncrease €1.696 million (2021)
Increase €332 million (2021)
Increase €262 million (2021)
Total assetsDecrease €1.069 billion (2021)
Total equityDecrease €639 billion (2021)
Owner
Greek State
(via HRADF)		(65%)
Hellenic Petroleum(35%)
Websitewww.depa.gr
Footnotes
in consolidated financial statement[1]

Public Gas Corporation of Greece Μ.A.E.[1] (DEPA; Greek: Δημόσια Επιχείρηση Αερίου (ΔΕΠΑ) Μ.Α.Ε.) commonly known for its Greek abbreviation DEPA[2] (Greek: ΔΕΠΑ, romanized: DEPA) is the natural gas supply company of Greece.[3] The registered office of the company is based in Irakleio, Athens.[4] It operates within the jurisdiction of the Ministry of Development. The chairman is Antonios Diamataris, and Konstantinos Xifaras is CEO.[5] In 2005, in order to liberalise the natural gas market, DESFA was created as a fully owned subsidiary to transport natural gas within Greece.[6] Since then, DEPA sells gas to large consumers and to the gas supply companies. Natural gas is imported by pipelines from Bulgaria and Turkey and by liquefied natural gas at the Revithoussa LNG Terminal.[7]

In May 2018 it was announced to sell DEPA's subsidiaries in Thessaly and Thessaloniki to Italian company Eni.[2] It was reported that DEPA would only keep the gas operations in Attica area.[2]

In 2019, the privatization of DEPA was approved by the Greek Government,[8][9] and the company was split into three separate entities: DEPA Infrastructure, DEPA International Projects and DEPA Commercial.

Splitting and Privatisation

DEPA was split in 2019 into three separate entities:

  • DEPA Infrastructure: Includes DEPA's shareholding in the management companies of the gas distribution networks in Greece, the fixed assets of the distribution networks, the fiber optic network owned by DEPA and the rights and obligations of DEPA in natural gas distribution networks (compressed or liquefied), in addition to its participation in international projects.
  • DEPA International Projects: Includes DEPA's participations in international projects.
  • DEPA Commercial: Mainly deals with the import and supply of natural gas and electricity, as well as possible rights and obligations of DEPA in international projects (e.g. quantity commitments in transnational pipelines).

The HRADF, which before the split owned 65% of DEPA shares (the remaining 35% belonging to Hellenic Petroleum), will proceed with the privatisation of only DEPA Infrastructure and DEPA Commercial (HRADF holds 65% of each company's shares, with 35% of the remaining shares in each company being held by Hellenic Petroleum). The only exception is DEPA International Projects, where the HRADF will transfer its 65% shareholding to the Greek State.

On 10 December 2021, Italgas signed the sale and purchase agreement for the acquisition of 100% of DEPA Infrastructure.[10]

Subsidiaries

As of 31 December 2019[1]: 43 
  • ΕDA Attikis A.E. (51%)
  • EDA Thess A.E. (51%)

See also

References

  1. ^ a b c "Annual Financial Statements for the year from 1 January 2016 to 31 December 2016" (PDF). DEPA. 2017. Archived from the original (PDF) on 27 February 2018. Retrieved 17 May 2018. translated from Greek original
  2. ^ a b c "Greece's DEPA to sell stake in gas supplier to Eni". Reuters. 16 May 2018. Retrieved 17 May 2018.
  3. ^ "DEPA Commercial SA". HRADF. Archived from the original on 2018-09-15. Retrieved 2019-12-06.
  4. ^ "ΔΕΠΑ | Δημόσια Επιχείρηση Αερίου Α.Ε. | Επίσημος ιστότοπος". ΔΕΠΑ (in Greek). Retrieved 2019-12-06.
  5. ^ "Management Team".
  6. ^ ""The new shareholding structure enables DESFA to move one-step forward": An Exclusive Interview With CEO Nicola Battilana". South EU Summit. 2019-04-04. Archived from the original on 2019-04-04. Retrieved 2019-12-06.
  7. ^ "Can Greece jump on the gas-transit train?". www.petroleum-economist.com. Archived from the original on 2018-09-07. Retrieved 2019-12-06.
  8. ^ Press (2019-12-05). "Σε ΦΕΚ ο νόμος για την αγορά ενέργειας και τον εκσυγχρονισμό της ΔΕΗ". patrastimes.gr (in Greek). Archived from the original on 2019-12-06. Retrieved 2019-12-06.
  9. ^ Kokkinidis, Tasos (29 November 2019). "Greece Plans Massive Investment in Switch to Cleaner Energy | GreekReporter.com". Retrieved 2019-12-06.
  10. ^ "TAIPED, Hellenic Petroleum sign deal selling DEPA Infrastructure to Italgas". eKathimerini. Athens, Greece. 11 December 2021. Retrieved 18 January 2022.

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