Belgian natural gas network operator Fluxys is said to be eyeing the Greek gas grid, after signing an agreement on Monday with its Greek counterpart (DESFA) for the drafting of a study on the creation of a virtual gas hub in Greece, which would pave the way for the first regional gas hub in southeastern Europe.

Fluxys holds a 16 percent stake in the consortium to build and operate the Transadriatic Pipeline (TAP), which will run across northern Greece, and according to sources it is closely monitoring developments in the transfer of DESFA’s 66 percent stake to Azeri firm Socar.

Belgian officials are even rumored to have expressed their interest in the Greek operator in case the deal with Socar does not go through to Greek authorities. They have further attributed their abstention from the 2012 tender for the DESFA stake to uncertainty regarding the Greek economy at the time.