DEPA S.A. is a group of companies with presence in the energy sector, actively engaged in the wholesale market, trading, supply and distribution of natural gas.
HRADF holds 65% of DEPA S.A. and Hellenic Petroleum S.A. the remaining 35%.
According to Law 4001/2011, as amended by Law 4643/2019, a partial demerger of DEPA’s distribution gas activities shall take place (these activities shall be transferred to a new legal entity which will be named DEPA Infrastructure S.A.). Also, DEPA’s participations in international projects shall be transferred through a spin-off to a new legal entity which will be named DEPA International Projects S.A.
Following the completion of the partial demerger and spin-off, all current wholesale and retail gas activities of DEPA, which include at least the following activities, will remain under DEPA which will be renamed to DEPA COMMERCIAL S.A., namely:
• DEPA’s participation (100%) in EPA Attikis SA;
• Import of natural gas into the country (either through pipelines or LNG) through the long-term supply contracts of the existing DEPA or through any other source;
• Supply of natural gas through or out of natural gas transmission systems or Natural Gas Distribution Networks;
• Import, supply and trading of electricity;
• Refueling of compressed-gas vehicles through proprietary service stations or through partner service stations, including all relevant contracts and the use of the trademark “FISIKON”;
• Supply to end customers, not connected to a natural gas distribution network or the natural gas national system or a natural gas Independent System, with compressed natural gas or LNG, including for the purpose of using natural gas as a fuel in marine and inland transport engines;
• Supply of remote natural gas distribution networks;
• any other activity associated with the supply of natural gas, including rights and obligations of DEPA in international projects, such as commercial commitments in the interconnector pipeline between the Hellenic Republic and the Republic of Bulgaria (IGB) or the floating LNG gasification terminal in Alexandroupolis;
• any rights and obligations arising from memoranda or other agreements associated with the future participation of DEPA in companies engaged in the construction, development and operation of the new floating storage regasification unit – FSRU in Alexandroupolis.
Following DEPA’s corporate restructuring, HRADF will hold 65% of total shares in DEPA COMMERCIAL S.A. and Hellenic Petroleum S.A. will hold the remaining 35%.
With a view to the monetization of its stake in DEPA COMMERCIAL S.A., HRADF has appointed financial and legal advisors, namely UBS Investment Bank & Piraeus Bank and Potamitis Vekris Law Firm, respectively.
For more information please visit DEPA’s website: https://www.depa.gr/