Reports: Deadline extended for binding offers for underground natgas storage facility off Kavala

Greece’s privatization agency, the Hellenic Republic Asset Development Fund (HRADF), has granted an extension to a deadline for submitting binding offers for the underground natural gas storage facility of south Kavala, in northern Greece.

According to reports, the request for a latter deadline was made by the environment and energy ministry. Monday was the deadline, although a new date of March 30, 2023 has reportedly been selected.

The development more-or-less confirms a report by ot.gr, whereby the international tender risked being declared null and void, after a perceived lack of interest by investors in the current phase.

The two final contenders for the facility, the Gek Terna-Desfa consortium, on the one hand, and Energean, on the other, reportedly balked at the conditions set by Greece’s Regulatory Authority for Energy (RAE) regarding the manner and amelioration of an initial investment, claiming it is not financial viable.

The storage facility is found off the port city of Kavala.