I think Joseph is into that now.

If you are forty and over, stop lying.

The clarifications of the last couple of days, such as are available, are still not reassuring or transparent:

The question still remains (amongst several): why and with what backing, financing or mandates has the Maltese company ALREADY started working on the power station?

Is it working alone, or with the rest of the consortium?

If it is working alone, how does this effect the eventual final contract?

As well as Shiv Nair, perhaps at his London address: 135, Holland Park Avenue.

The prime minister said he is not privatising Enemalta. What he did is he privatised its power stations. BWSC is gone to China, and the new one will be owned by Electrogas.

At the moment, Enemalta is left with two old plants (Marsa and Delimara 1), and a chimney.

The company in question is Ansaldo Energia, which however is NOT an energy provider, but simply a producer of gas turbines. Ansaldo Energia along with its sister company Ansaldo Breda, railway and train engineering company belongs to Finmeccanica, the state’s engineering, armaments and shipbuilding conglomerate,

What similar agreement?

What I can actually see is this rather coinicidental ‘strategic agreement’ between Italy and China the day Muscat was supposed to proclaim the bxara t-tajba.

The agreement being between the FSI, Italy’s national strategic development fund and Shanghai Electric, signed the 8th of May.

Trust Renzi to get in the way. And don’t tell me Muscat’s house of cards with Gasol, Siemens et al, aren’t in the way of Shanghai Electric’s major interests.

http://www.fondostrategico.it/en/media/press-releases/fsi-shanghai-electric-strategic-agreement-for-ansaldo-energia.html

Daphne, I have taken the trouble to set out a number of questions which some journalist should submit to the office of the prime minister, the Minister for Health, Energy, Ovaltine and Podologists, and to Enemalta. If any of these questions is raised in Parliament, a written copy should be given to the Speaker under the heading “PQs on erectic deal.”

“Reference is made to the contract which the prime minister Joseph Muscat said “had been signed” on the program Reporter which was aired on Monday 12th May following questions by the Leader of the Opposition:

1. Was the prime minister referring to the “electric deal” agreement which was “sealed behind closed doors” on Friday 9th May as reported by Kurt Sansone on The Times of Monday 12th May?

2. What are the formal title and legal title of the said “electric deal” agreement signed on Friday 9 May reported in The Times of Monday 12th May?

3. On, and with what date, was the said “electric deal” agreement actually signed?

4. In which country, town, and address location was the said “electric deal” agreement signed?

5. What are the registered names of the companies or other legal entities from the private sector which signed the said “electric deal” agreement, and what are the registration details of those companies?

6. What are the registered names of the companies, legal entities or Ministries from the Maltese government which signed the said “electric deal” agreement?

7. Who were the officials – names and positions – who signed the said “electric deal” agreement on behalf of the Maltese government?

8. Were third parties, such as ambassadors, consultants, advisors, former EU Commissioners, persons or entities black listed by the World Bank, present for the signing?

9. In particular, was Shiv Nair – the prime minister’s consultant on energy whose due diligence by the Office of the Prime Minister did not reveal that he is permanently debarred by the World Bank for corruption, the one the prime minister said he never met – present for the signing of the “electric deal”?

10. Do you confirm that Gasol plc, a member of the ElectroGas Malta Consortium, has entered into a Share Purchase Agreement (SPA) (with Enemalta) under which Gasol plc will acquire 30% of Malta Power and Gas Ltd, as stated in a public announcement by the London Stock Exchange AIM-listed company on 14th May 2014?

11. When was the said SPA agreement dated and signed?

12. In which country, town, and address location was the said SPA agreement signed?

13. What are the names of the parties who signed the said SPA agreement?

14. Why does it appear on the MFSA records that Malta Power and Gas Ltd is still owned by Enemalta (except for 1 share) despite Gasol plc’s announcement about the said SPA?

15. Has the said SPA been completed as at today, and if not, on what date, or after what event or condition, is it expected to be completed?

16. Are there any conditions or events on which the completion of the SPA depends, and if yes, what conditions, and what are the consequences if those conditions are not fulfilled?

17. What amount of consideration in Euro (please convert any amounts due in Renminbi at today’s rate of exchange) was agreed on the said SPA for Gasol plc’s 30% stake in Malta Power and Gas Ltd?

18. In favour of whom is the said consideration payable?

19. Was that consideration paid to-date, and if yes on what date, and if not, on what date is it due to be paid?

20. Is that consideration paid, or due to be paid, in cash (for the benefit of Minister Manwel Mallia, bank transfers are considered as “cash”) or in kind?

21. If paid in Euro notes, were they deposited in a bank account immediately, or were they stashed under Manwel Mallia’s mattress?

22. Have SPAs for the acquisition of the remaining 70% of the shares in Malta Power and Gas Ltd been signed by the other members of the ElectroGas Malta Consortium (namely Siemens Project Ventures, SOCAR Trading SA, GEM Holdings Ltd)?

23. If yes, by which members of the ElectroGas Malta Consortium, on what date, at what location, with what entities on behalf of the Maltese government, and for what amounts of consideration?

24. If not, “why not”?

25. Has the power purchase agreement for 18 years’ supply of electricity been signed between Enemalta and the ElectroGas Malta Consortium, and if not, “why not”?

“Commenting on the project COO, Alan Buxton said: “This is a hugely exciting development for
Gasol. Although based outside of our usual geographic remit, we have considerable expertise in
floating LNG import projects, which we can apply to Malta. I am delighted that out of the final
three bidders, our consortium has been announced as preferred bidder and we look forward to
finalising the project arrangements with Enemalta and subsequently concluding the financing
agreements with Electrogas’ mandated bank consortium of local and international banks.”

https://www.google.com.mt/url?sa=t&rct=j&q=&esrc=s&source=web&cd=11&cad=rja&uact=8&ved=0CGUQFjAK&url=http%3A%2F%2Fwww.gasolplc.com%2F&ei=pjZ3U4ikOtLn7Abjl4CYCQ&usg=AFQjCNHGbBXpQf3Y61RcGwxCHN4z1bahyA

Call me naive but it doesn’t look like sound business strategy to me. It looks like Muscat using state-owned enterprises to honour his pre-electoral commitments to undemocratic states.