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Greek gas company sale stalled, EU-IMF rescue lenders renew inspection

ATHENS, Greece - Greece's troubled privatization program suffered a blow Monday after the Russian energy giant Gazprom withdrew its interest in buying the natural gas firm DEPA, citing fears over the Greek company's future finances. The news, announced as a delegation from Greece's international creditors returned to Athens for a new round of inspections, hammered stocks in Greece, with the main index closing 4.7 per cent lower.

Greek parliament ratifies intergovernmental agreement on TAP

Nijat Mustafayev; The Greek Parliament ratified the Intergovernmental Agreement (IGA) between Albania, Italy and Greece on the construction and operation of the Trans Adriatic Pipeline (TAP) project, APA-Economics reports.The IGA between the three countries, which was signed in Athens on February 13, confirms the host countries' support for TAP and their cooperation for the project's timely implementation, TAP reported.Note that, TAP will transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to southern Italy and further into Western Europe.

Greece can help solve EU's 'energy insecurity': PM

Greece can help resolve Europe's energy insecurity with its untapped resources, Prime Minister Antonis Samaras said on Monday. "There is the potential for very substantial sources in our area," Samaras told an international energy conference in Athens. "Greece can play a key role to alleviate ... Europe's energy insecurity," he added. The cash-strapped Greek state hopes for several billion euros (dollars) in revenue over the next 15 years from hydrocarbon caches which it believes lie in the Ionian Sea and near Crete.
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