The framework agreement of Greece with creditors provides for the liberalization of the country's gas market and the privatization of 66% stake in the operator of the DESFA, Greek gas transmission system, which can only be sold to a European company.

The agreement with creditors provides for introduction of an action plan by September 2017 to finalize the liberalization of the gas market, RIA Novosti reported quoting Greek Energy Ministry.

The process of recruiting a consultant for privatization has already been initiated by a fund from HRADF. The process will be over by the end of 2017, the ministry specified.

DESFA held the first tender for the sale of 66% stake in June 2013. It was won by the State Oil Company of Azerbaijan (SOCAR), which offered 400 million euros. However, in November 2016 the deal was broken because of the European Commission’s ban on sale of a controlling stake. The Commission demanded reduction of SOCAR stake to 49%, while Greek authorities refused to reduce the price.