Aktor to join Motor Oil in Dioriga Gas FSRU project

Two of Greece’s most prominent business companies appear to be aligning their strategic interests and joining forces.

The AKTOR Group and Vardinoyannis family-led energy group Motor Oil have signed a framework of key transaction terms under which AKTOR will acquire a 50% equity interest in Dioriga Gas S.A.

DIORIGA GAS S.A. is the project vehicle for the development and operation of a floating storage and regasification unit for liquefied natural gas in Greece (the FSRU), which is expected to be connected to the National Natural Gas Transmission System.

According to AKTOR’s and Motor Oil official announcements, the two companies have agreed on a framework of key terms for the proposed transaction involving the company Dioriga Gas.

The transaction remains subject to several conditions, including finalization and execution of definitive contractual documentation between the parties, as well as obtaining all required corporate, regulatory, and other approvals.

The proposed acquisition supports AKTOR’s strategy