Sunday May 24, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece confirms 10-year extension of gas supply deal with Russia's Gazprom

Greece’s natural gas distributor DEPA has clinched a new gas supply deal with Russian energy giant Gazprom, which includes a 15 percent price cut backdated to last July, Greece’s energy ministry said on Tuesday.

The new agreement extends a current deal between the two companies by 10 years to 2026, the energy ministry said in a statement, confirming what sources told Reuters last week.

Gazprom is the biggest supplier of state-run DEPA. The two sides have been negotiating for months, with DEPA seeking a cut of between 15 and 20 percent in the gas supply price and threatening to go to arbitration if there is no agreement.

The new deal provides for a more flexible take-or-pay agreement to supply DEPA with between 2.5 and 3 billion cubic metres of natural gas each year. The new gas price is linked to the one for oil and is below $400 per 1,000 cubic metres, according to a source directly involved in the talks.

Greece is keen to reduce its industry’s energy costs to help to shield it from the impact of the country’s deep recession that has led to a wave of corporate bankruptcies and sent unemployment to 28 percent. [Reuters]

ekathimerini.com , Tuesday February 25, 2014 (18:54)  
Hotel contracts with a ‘Greek default clause’
Listed firms have whisked away most of their cash reserves
Car sales drop a gear on VAT rate uncertainty
Bulk of loan requests comes from food service
Protesters torch trolley bus, clash with police in Athens
Around 40 hooded anti-establishment protesters threw petrol bombs and stones at riot police in central Athens on Saturday, setting fire to a trolley bus. Police fired teargas to try and cont...
Tsipras faces down radicals within SYRIZA over terms of deal
After a busy week of talks with European leaders aimed at securing support for a deal for Greece, Prime Minister Alexis Tsipras faces challenges on the home front amid tensions with SYRIZA o...
Inside News
SOCCER
Reds add Cup to league trophy with 3-1 win over Xanthi
Olympiakos completed a league-and-cup double on Saturday by beating Xanthi 3-1 in the Greek Cup final at the Olympic Stadium of Athens, that was more balanced than the final score suggests. ...
BASKETBALL
Olympiakos strolls past Korivos Amaliadas
Olympiakos completed the Basket League’s semifinal line-up on Saturday after sweeping Korivos Amaliadas with a 2-0 score in the best-of-three quarterfinals. After winning 91-52 in Game 1 at ...
Inside Sports
ANALYSIS
Neither Grexit nor a dual currency will solve Greece’s problems
A Grexit or the introduction of a dual currency is not a solution to Greece’s problems. On the contrary, it would be a worst-case scenario for Greece in the short term. Only in the medium to...
COMMENTARY
First aid for the capital
The fact that the center of Athens exudes the stench of human waste is an undeniable truth, just like the fact that in late spring, one nostril smells blossoming bitter lemon trees while the...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Reds add Cup to league trophy with 3-1 win over Xanthi
2. Olympiakos strolls past Korivos Amaliadas
3. Protesters torch trolley bus, clash with police in Athens
4. Tsipras faces down radicals within SYRIZA over terms of deal
5. Police on standby after Roma dispute leaves one dead
6. Dog attacks seven people in Thessaloniki, including 13-year-old boy
more news
Today
This Week
1. Hotel contracts with a ‘Greek default clause’
2. Neither Grexit nor a dual currency will solve Greece’s problems
3. Listed firms have whisked away most of their cash reserves
4. First aid for the capital
5. Tsipras faces down radicals within SYRIZA over terms of deal
6. New civil service assessment scheme focuses on rewards instead of punishment
Today
This Week
1. The Greek-German breakthrough that didn’t come
2. Conspiracy madness
3. Greece came close to not paying IMF
4. National self-awareness put to the test
5. Albanian demarche raises concerns about possible territorial claims over Greece
6. Greek endgame nears for Tsipras as bank collateral hits buffers
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.