Greek Hydrocarbon Management Company S.A.
14/02/2012 13:13

The Greek President signed a Presidential Decree (PD) for the establishment of a new company under the name "Greek Hydrocarbon Management Company S.A. (EΔEY Α.Ε.)". According to the aforementioned PD, the scope of the company includes:
- The management by the Greek State of the exclusive rights to search, exploration and exploitation of hydrocarbons on land and underwater regions where the Greek Republic has sovereignty or sovereign rights.

- The management, control and monitoring of all the contracts concluded in the past by the Greek State or on the State’s account with third parties.

- To identify and evaluate the potential of the country's hydrocarbons, as well as the planning of the assignment and supervision of investigation and evaluation of this potential.

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State Council: Verbund - Art Energa Case.
08/02/2012 10:25

The State Council, vindicated Verbund - Art Energa Hellas S.A., which called for annulment the decisions of the Minister of Development, issued in 2009. According to the aforementioned ministerial decisions the allocation of the annual rates of exchange were determined to meet expenditure on utilities (SGI) and adopted the annual consideration to cover the costs of providing SGI during 2008. Verbund - Art Energa Hellas S.A. argued that the contested ministerial decisions require to partially compensate P.P.C. and its customers for providing SGI, limiting the competitiveness of Verbund - Art Energa Hellas S.A. According to quantitative estimates of market power, the aforementioned decision of the State Council in effect leads to a return by the Hellenic Transmission System Operator (ΔΕΣΜΗΕ) of approximately 70 million to Verbund - Art Energa Hellas S.A.

Restoration of Uncontrolled Disposal Sites in Epirus Region.
07/02/2012 10:23

The restoration project for all waste disposal sites undeveloped in Epirus Region, joined the Operational Programme Environment and Sustainable Development of the Ministry of Environment, Energy and Climate Change. With this project, worth 3 million euros, 38 inactive waste disposal sites (IWDS) undeveloped in 16 municipalities of the Region of Epirus, Preveza, Arta Igoumenitsa Filiates, Ziros, Parga, peacocks, Konitsa, Metsovo Zagoria, B. Tzoumerka, K. Tzoumerka Zitsa, G. Karaiskakis, Skoufa and N. Souli, will be restored.


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Notice of a public international open bidding tender regarding exploitation rights on mining areas.
02/02/2012 10:21

The Ministry of Environment, Energy and Climate Change issued on 4/1/2012 a notice of a public international open bidding tender for the lease of the exploration and exploitation rights on a public mining area in the vicinities of Metaxochori, Vathi, Gerakari, Fyska, Kentriko, Mylochori and Antigoneia in the Prefecture of Kilkis (BON00-B03). It refers to an international open bidding tender with written sealed offers for the five-year (5) leasing of the metallic mineral exploration and exploitation rights on a state mining area covering a total surface area of 90.76 km2 in the vicinities of Metaxochori, Vathi, Gerakari, Fyska, Kentriko, Mylochori and Antigoneia, Prefecture of Kilkis (Region of Central Macedonia, Regional Unit of Kilkis, Municipality of Kilkis).



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Companies’ consolidation process
26/01/2012 13:03

According to Law 4013/2011 legislative options in business consolidation are (a) the process of consolidation and (b) the reorganization plan. The first develops exclusively before the bankruptcy and the second only after that. Companies in imminent inability or insolvency can choose one or the other procedure. Specifically, the consolidation process enhances the ability to rescue the company, before the period of bankruptcy with an agreement between the debtor and creditors, which aims to limit the damage to a minimum. This agreement may be established and directly between the company and its creditors and confirmed by the Court without first convening the creditors assembly. In case the agreement is certified by the Court, all creditors of the company are bound by it.

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Ministerial Decision ranking projects and activities for the purposes of environmental licensing according to Law 4014/2011
19/01/2012 12:31

Ministerial Decision ranking projects and activities into categories and subcategories for the needs of environmental permitting, pursuant to Law 4014/2011 was issued by the Minister of Environment, Energy and Climate Channge (YPEKA), which reforms radically environmental licensing procedure. The new classification for projects and activities is the basic prerequisite for the activation of a new framework for environmental licensing that simplifies bureaucratic procedures in accordance with the requirements of the respective EU Directive and reduces the time required for environmental licensing.

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New legislative proposals on public procurement
18/01/2012 17:29

In December 2011 the Commission adopted new proposals on public procurement. These proposals are part of an overall programme aiming at an in-depth modernization of public procurement in the European Union. This programme includes the revision of Directive 2004/17/EC (procurement in the water, energy, transport and postal services sectors) and 2004/18/EC (public works, supply and service contracts), as well as the adoption of a directive on concessions, which were until now only partially regulated at European level.

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Buildings Energy Performance Certificate
17/01/2012 12:28

According to circular issued by the Ministry of Environment, Energy and Climate Change any building property, more than 50 square meters, can not be rented, if the property is not accompanied by an energy certificate. All new lease agreements filed to the tax authorities should bear the reference number of the Energy Performance Certificate (EPC).

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Pipeline project of the South Corridor
16/01/2012 12:22

On January 13, 2012, the Institute of Energy of South East Europe (ΙΕΝΕ), an organization whose main activity is the study of energy matters, released the main conclusions of a study that the IENE completed, comparing the benefits that Greece will gain from three competing potential gas pipelines transcending the country, i.e. ITGI, TAP and South Stream. According to this study, ITGI (Interconnection Turkey Greece Italy), a pipeline project to  supply natural gas from the Caspian Sea to Europe, scheduled to be operational by 2015, is the most mature pipeline project of the South Corridor (a transport corridor for European gas suppliers from the Caspian region and the Middle East countries) in terms of licensing and financing.

Preliminary review of the public works expenditure by the Court of Audit (Elegktiko Synedrio) only by the submission of the first monthly account.
09/01/2012 13:35

No. 136/2011 Presidential Decree was published in the Gazette 267A/31-12-2011 and determines the minimum amount of the Greek state’s expenditure audited by the Court of Audit. Especially costs arising from public works, studies, commissions and/or services contracts budgets are going to be preliminary reviewed at the time of submission the first monthly account only, regardless of the amount thereof. Any extensions and renewals of such contracts and any additional services contracts and projects shall be reviewed in the same way.

EFCA releases guide to assist firms involved in integrated business models
30/11/2011 16:15

The European Federation of Engineering Consultancy Associations, acknowledging that many owners today want an arrangement where a single source is responsible and accountable for all phases the construction business process, releases guide to assist firms involved in integrated business models. The free EFCA guide is intended as a quick reference for engineering consultancy firms, working outside the traditional design-bid-build approach and contracting relationships.

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Building permits and construction procedures
28/11/2011 12:30

On 25.11.2011 the law 4030/2011 was issued introducing a new way for building licensing, construction control and other provisions. The new law imposes strict administrative and penal sanctions against those who violate the terms of the license and the applicable provisions of construction, so that the institutional framework of penalties be proportionate to the adverse effects on the environment of delinquent behavior.

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EU Fund Renewable Energy Infrastructure Project
24/11/2011 10:30

The EU has agreed on three ambitious pan-European alternative energy research infrastructure projects that will cost €1.2 billion as part of the roadmap of the European Strategy Forum on Research Infrastructures (ESFRI).The new energy infrastructure projects will also see further investments within a 20 year time frame. The projects include funding to include a wind research facility in Denmark, a concentrated solar power installation in Spain, a nuclear reactor in Belgium and North Sea grid initiatives.

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Public consultation until 7.12.2011 for the new “Private Capital Company” with a capital of 1 euro.
21/11/2011 11:15

The creation of new corporate structure ("Private Capital Company") that meets the needs of Greek entrepreneurship, is the chapter of the new law to overcome business obstacles, which is being finalized. 

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