DEPA

DEPA, short for the Greek name Dimosia Epicheirisi Aeriou, is the Public Gas Corporation of Greece and a state-linked energy company focused principally on natural-gas supply. Its registered office is in Athens, and it operates within the policy and regulatory environment of the Greek Ministry of Development. The company has historically occupied a central position in Greece's gas market by importing gas, supplying large industrial and commercial consumers, and selling gas to gas-supply companies. DEPA's supply system has relied on more than one import route. Pipeline gas has entered Greece through interconnections with Bulgaria and Turkey, while liquefied natural gas has been received at the Revithoussa LNG terminal. This combination has connected DEPA to both regional pipeline flows and international LNG markets, giving it a role in the country's energy security and gas-market development. Its activities have therefore extended beyond a conventional retail brand: DEPA has functioned as a wholesale supplier, importer, contractual counterparty and participant in broader gas-infrastructure projects. A major institutional change occurred in 2005, when DESFA was established as a wholly owned DEPA subsidiary to operate gas transmission activities in Greece. The separation was associated with efforts to liberalize the Greek natural-gas market and distinguish supply from network transportation. After the creation of DESFA, DEPA's core commercial role centered more clearly on importing and supplying gas, while transmission functions were handled through the subsidiary. The company's structure changed again during the privatization process. In 2018, the proposed sale of DEPA's gas-supply subsidiaries in Thessaly and Thessaloniki to Italy's Eni was announced. The transaction was part of a broader effort to reorganize ownership and reduce DEPA's direct role in regional distribution activities, with the company expected to retain a stronger focus on the Attica market at that stage. In 2019, the Greek government approved a larger restructuring that divided DEPA into three entities. DEPA Infrastructure incorporated interests and obligations connected with gas-distribution networks, related fixed assets, a fiber-optic network and certain distribution projects. DEPA International Projects brought together DEPA's participation in international energy projects. DEPA Commercial became the principal commercial arm, concentrating on the import and supply of natural gas and electricity, together with certain rights and obligations connected with international pipeline commitments. The privatization framework initially envisaged selling DEPA Infrastructure and DEPA Commercial while transferring the state's interest in DEPA International Projects to the Greek state. On 10 December 2021, Italgas signed an agreement to acquire 100% of DEPA Infrastructure. Because the DEPA name has been used across the pre-split company and its successor entities, references to the brand require attention to the relevant date and legal entity. Overall, DEPA represents Greece's public-sector natural-gas supply heritage and the transition from a vertically organized gas company toward a more separated, competitive and privately participated energy market.

DEPA is Greece's public gas corporation and has historically served as a key intermediary between international gas markets and domestic customers. Its principal business has been the import and supply of natural gas to large consumers and to gas-supply companies. Imports have reached Greece through pipeline connections with Bulgaria and Turkey, as well as through liquefied natural gas delivered to the Revithoussa terminal. The company's role developed alongside the expansion and liberalization of Greece's natural-gas market. In 2005, DESFA was created as a wholly owned subsidiary to transport natural gas within Greece. The creation of a separate transmission company helped distinguish network transportation from DEPA's supply and import activities. DEPA subsequently concentrated more heavily on commercial supply, wholesale relationships and gas procurement. The company also became connected with regional distribution businesses and international energy initiatives. In May 2018, the proposed sale of its subsidiaries in Thessaly and Thessaloniki to Eni was reported. The contemplated reorganization would have left DEPA with a narrower direct distribution presence, particularly in the Attica area, while transferring regional operations to a private-sector participant. A more extensive restructuring was approved in 2019 as part of Greece's privatization program. DEPA was separated into three successor entities. DEPA Infrastructure received interests in gas-distribution network management companies, distribution-network fixed assets, a fiber-optic network and associated distribution rights and obligations. DEPA International Projects consolidated participation in international projects. DEPA Commercial retained the principal import and supply activities, including natural gas and electricity supply and certain contractual rights and obligations associated with transnational pipelines. The restructuring also separated the assets intended for privatization from the international-project business intended to remain under state control. The Hellenic Republic Asset Development Fund, which held 65% before the split, was expected to pursue the privatization of DEPA Infrastructure and DEPA Commercial, with Hellenic Petroleum holding the remaining 35% in each. For DEPA International Projects, the state's 65% interest was to be transferred to the Greek state. On 10 December 2021, Italgas signed an agreement to acquire all of DEPA Infrastructure. DEPA's history is therefore closely tied to the institutional evolution of Greek energy policy: the creation of separate transmission operations, the opening of supply and distribution to competition, the sale of regional businesses and the division of a public gas company into specialized entities. The DEPA name continues to require legal and chronological qualification because it has been associated with both the original corporation and the successor businesses formed during the restructuring.

• 2021

  Italgas agreement for DEPA Infrastructure

  [1]DEPAen.wikipedia.org

  Italgas signed a sale and purchase agreement to acquire 100% of DEPA Infrastructure.

• 2019

  DEPA split into three entities

  [1]DEPAen.wikipedia.org

  The company was reorganized into DEPA Infrastructure, DEPA International Projects and DEPA Commercial, separating distribution, international-project and commercial-supply activities.

• 2018

  Regional gas-supply subsidiaries proposed for sale

  [1]DEPAen.wikipedia.org

  The proposed sale of DEPA's subsidiaries in Thessaly and Thessaloniki to Eni was announced during the company's reorganization and privatization process.

• 2005

  DESFA established as a DEPA subsidiary

  [1]DEPAen.wikipedia.org

  DESFA was created as a wholly owned subsidiary to transport natural gas within Greece, supporting the separation of transmission from DEPA's supply activities.

Public-sector Greek gas supplier and energy-market infrastructure participant, positioned between international gas procurement, wholesale supply and the development of Greece's liberalized gas market.

• Gas supply

  Natural gas supply

  DEPA's core activity has been supplying natural gas to large industrial and commercial consumers and to gas-supply companies. The business depends on imported gas procured through regional pipelines and LNG channels, rather than on a consumer-goods product portfolio.

• Energy procurement

  Liquefied natural gas procurement

  DEPA has imported liquefied natural gas through Greece's Revithoussa LNG terminal. LNG procurement complements pipeline imports and supports the company's wholesale supply role in the Greek energy system.

• Electricity supply · 2019

  Electricity supply

  Following the 2019 restructuring, DEPA Commercial was designated to handle electricity supply alongside natural-gas import and supply activities. The electricity business formed part of the broader commercial-energy scope rather than a separately documented consumer brand.

• 2021

  Agree to sell DEPA Infrastructure to ItalgasM&A

  Background

  DEPA Infrastructure was one of the successor businesses selected for privatization after the 2019 split.

  Action taken

  Italgas signed a sale and purchase agreement for the acquisition of 100% of DEPA Infrastructure.

  Aftermath

  The agreement advanced the transfer of Greece's gas-distribution infrastructure business to an Italian strategic investor.

  Source

• 2019

  Split DEPA into specialized successor entitiesStrategy

  Background

  The Greek government's privatization program required a clearer separation of distribution assets, international projects and commercial energy supply.

  Action taken

  DEPA was divided into DEPA Infrastructure, DEPA International Projects and DEPA Commercial.

  Aftermath

  The restructuring created separate entities for privatization and retained the international-project business within a state-oriented framework.

  Source

• 2005

  Separate gas transmission into DESFAStrategy

  Background

  Greece was working to liberalize its natural-gas market and distinguish transmission-network operations from gas supply.

  Action taken

  DEPA created DESFA as a wholly owned subsidiary responsible for transporting natural gas within Greece.

  Aftermath

  DEPA's subsequent role focused more strongly on importing and supplying gas, while transmission was handled through the subsidiary.

  Source

1. 1DEPAen.wikipedia.org