DESFA CEO resigns as talks with SOCAR stall

Konstantinos Xifaras, CEO of natural gas grid operator DESFA, submitted his resignation on Monday, following a meeting with Environment and Energy Minister Panos Skourlatis, according to information.


Xifaras had been selected for the post in October 2013 and had stayed on board as discussions for its sale to Azerbaijan's state-owned oil company SOCAR continue.


The initial deal to sell a 66 percent stake to SOCAR has been blocked by the EU. As negotiations stand, Greece will either sell its stake to the Azeri firm which will then limit its stake below 49 percent, or no deal will be achieved, in which case Greece will claim compensations through court.

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