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New DEFA chief appointed by the cabinet

Admin — Thu, 09 May 2013 07:33:14 +0000

THE CABINET yesterday appointed a chemical engineer to head the natural gas public company DEFA.

Eleni Vasileiadou has previously worked as business development manager for major oil and gas company Shell International Gas Ltd (UK), among others.

She is taking over as DEFA head following the cabinet’s political decision to sack the previous chairman, Costas Ioannou, over alleged actions committed in his previous role as head of the energy regulator.

The cabinet yesterday also appointed businessman Michalis Andreou to the DEFA board.

A political decision to sack Ioannou was taken after the attorney-general submitted a report to the cabinet, with the government spokesman speaking of “serious misconduct.”

Ioannou, who has the right of appeal, previously declined commenting to the Cyprus Mail but has said he plans to contest the decision.

Police have confirmed that the investigation into Ioannou draws on an ongoing civil lawsuit filed with Limassol district court.

The lawsuit concerns a licence awarded to a Russian company to operate a private power station. The licence was given in 2009 while Ioannou was chairman of the energy regulator, CERA.

To obtain the licence, the company had engaged the services of Andreas Hayiannis as a mediator/facilitator. Hayiannis is a relative of Ioannou’s.

Published by: www.cyprus-mail.com

Study to determine overlap between DEFA and KRETYK

Admin — Tue, 30 Apr 2013 10:02:08 +0000

A STUDY is underway to assess the respective roles of the Natural Gas Public Company (DEFA) and the Cyprus National Hydrocarbons Company(KRETYK) and ensure there is no overlap, the energy and trade minister said yesterday.
Giorgos Lakkotrypis was speaking to newsmen shortly after meeting with the President. The minister confirmed they discussed the “future” of the two entities.
Quizzed on whether the government was thinking about merging the two entities – as widely rumoured in the local media – Lakkotrypis said the Attorney-general’s office, assisted by Norwegian legal consultants, has initiated a study into “the institutional framework and jurisdictions of each organisation, which ought to be distinct.”
Asked to comment on remarks by DISY leader Averof Neophytou for the need of a moratorium on appointments to the civil service over the next three months, the minister said he agreed in principle.
“There needs to take place a rationalisation within all the organisations, of all the executive directors not only at DEFA but in other organisations as well,” he said.
The government is said to be wary of disbanding or reshuffling DEFA as that might create legal complications due to the fact the organisation is in the midst of assessing tenders for short-term purchases of natural gas.
It’s not clear what other motives, if any, lie behind the mooted restructuring of DEFA and KRETYK. Sources speculated the move may hide a political power play: DISY had always expressed reservations about the set-up of the two entities, particularly DEFA, thought to be dominated by personalities affiliated to the DIKO party.
The same sources wondered also why the energy regulatory authority (CERA) has so far been kept in the dark about the government’s intentions toward the two organisations.
Earlier this month the government decided to sack DEFA chairman Costas Ioannou over actions he took in his previous role as head of CERA.
DEFA is a public utility tasked with distributing natural gas to the local market, while KRETYK is a state-controlled oil and gas company responsible for developing, managing, exporting and operating gas.

Published by: www.cyprus-mail.com

New gas chief

Admin — Sun, 21 Apr 2013 10:15:05 +0000

Nicosia —The new Executive Chairman of the Natural Gas Public Company (DEFA), following the dismissal of previous head Costas Ioannou, will be appointed soon, Minister of Energy George Lakkotrypis said.
Speaking to the press, after a meeting he had with the Paphos Chamber of Commerce and Industry, the Minister said that in the coming days he will put before the Cabinet a proposal for the succession of Ioannou, but abstained from mentioning any names.
Last week the Cabinet decided to fire the chairman of Cyprus’ natural gas company, because of serious misconduct, according to Government Spokesman Christos Stylianides.
Stylianides had said the decision to sack DEFA chairman came after the Attorney General handed over a report to President Nicos Anastasiades.
Yesterday the General Assembly of DEFA convened in an extraordinary meeting in order to approve the resolution on Ioannou’s termination of duties.

Published by: CNA

Government sacks gas company chairman

Admin — Thu, 11 Apr 2013 09:10:45 +0000

The government has decided to sack the chairman of the island’s natural gas company due to serious misconduct, the spokesman said yesterday.

Christos Stylianides said the cabinet decided to dismiss DEFA chairman Costas Ioannou after a damning report drafted by the attorney-general was submitted to President Nicos Anastasiades.

Stylianides did not disclose any details.

Media reports suggested that the decision was linked with a permit given to a private company to operate a power station when Ioannou was the chairman of the island’s energy regulator CERA in 2009.

DEFA is responsible for the import, storage, distribution, transmission, supply and trading of natural gas, and the management of the distribution and supply system of natural gas in Cyprus

Published by: www.cyprus-mail.com