Lukoil and SOCAR plan to jointly invest in Turkey - Turkey, 15 August 2017  |  Electrica recorded lower profit in H1 2017 - Romania, 15 August 2017  |  Rompetrol Rafinare reported a loss of 7 million dollars in H1 2017 - Romania, 15 August 2017  |  HEP to cooperate with EDF on smart meters installation - Croatia, 15 August 2017  |  Bulgarian Stock Exchange to acquire IBEX for 2.7 million euros - Bulgaria, 15 August 2017  |  Government’s priorities in energy sector presented - Bulgaria, 15 August 2017  |  Tender for NPP Belene project privatization in early 2018 - Bulgaria, 15 August 2017  |  Gazprom expects no changes in key energy projects due to new US sanctions - Region, 15 August 2017  |  Biomass power plant to be built in Veliko Gradiste - Serbia, 14 August 2017  |  Oil production fell by 4.6 % in the first half of 2017 - Romania, 14 August 2017  |  Fondul Proprietatea to sell its stakes in Engie and Enel - Romania, 14 August 2017  |  Transgaz recorded increased profit in H1 2017 - Romania, 14 August 2017  |  ESO launched tender for 400 kV Burgas transmission line - Bulgaria, 14 August 2017  |  Strabag offering settlement for HPP Vranduk - Bosnia and Herzegovina, 12 August 2017  |  Turkey to upgrade old coal-fired power plants by 2019 - Turkey, 11 August 2017  |  Serbian households have the cheapest electricity in Europe - Serbia, 11 August 2017  |  Nuclearelectrica’s net profit significantly increased in H1 2017 - Romania, 11 August 2017  |  Romgaz recorded 190 million euros net profit in H1 2017 - Romania, 11 August 2017  |  Over 21.5 million euros collected from trading greenhouse gas emissions certificates in July - Romania, 11 August 2017  |  Electricity consumption decreased by 1.5 % in the first half of 2017 - Romania, 11 August 2017

SGCC will acquire administrative rights in ADMIE – Greece, 16 June 2017

According to the new shareholders’ agreement, State Grid Corporation of China (SGCC), which has won on the tender for the purchase of 24 % stake in Greek electricity transmission system operator ADMIE, will also acquire administrative rights in the company, including the right to veto important decision and it would offered first choice if additional stake in ADMIE should be sold at some point In the future.
The agreement stipulates that the Managing Director of the company will be appointed with the written approval from SGCC. If there is some disagreement regarding the position, ADMIE will have to propose three new candidates and SCGG will be required to select one of them within seven days. The agreement also allows the Chinese company to opt out of ADMIE within six months due to failure to reach a friendly settlement in case of a disagreement with the Greek state, which means that the investor could even create an artificial crisis at ADMIE if it wanted out.

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