The crisis-hit European nation Greece is heading towards privatization of its energy sector. The country is also in favor of reforms in several sectors to give a new life to the ailing economy.
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Norway-based oil company Statoil ASA (STO) said on Tuesday it has decided to invest in the Shah Deniz gas field development in Azerbaijan, together with its consortium partners.
SOCAR, the Azeri state energy company, had started negotiations with the Greek government for the purchase of natural gas grid operator DESFA.
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