Friday April 18, 2014 Search
Weather | Athens
15o C
11o 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)  
PPC to issue corporate bond of 500 mln
Primary surplus continued by end-March
Eurobank eyes top Core Tier 1 level in Greece
Tourist spending up 17.3 pct
Greece offers to help find Turkish F-16 lost in 1996
Greece officially offered on Thursday to assist Turkey in its efforts to locate and salvage a Turkish Air Force fighter jet which crashed in the Aegean almost 20 years ago. Greek Defense Min...
Talks lined up in wake of ‘shameful’ soccer scenes
The government has pledged to meet with soccer officials after Easter to tackle unruliness in the game following wild scenes at the Greek Cup semifinal between PAOK and Olympiakos in Thessal...
Inside News
BASKETBALL
Former Red Bourousis wrecks Olympiakos´s hopes for a break
Olympiakos tried harder in Game 2 of the Euroleague play-offs in Spain, and Real Madrid was not as good on Thursday as in Game 1, but the Spaniards still emerged victorious on the night with...
SOCCER
Greek soccer turns fishier than ever
Soccer in Greece reached new lows in scenes unseen since the national team’s triumph in Euro 2004, as PAOK and Olympiakos served up a cup semifinal with PAOK emerging as the winner and the s...
Inside Sports
COMMENTARY
The placebo effect and the economy
Among the greatest mistakes made in the years of Greece’s hard landing is that citizens did not get the chance to sense that aside from austerity and pain the economic adjustment program als...
COMMENTARY
Ukraine is a crisis—but not a Cold War
Given Russia’s annexation of Crimea, the imposition of US and European sanctions, and the potential for more escalation in Ukraine, we are witnessing the most important geopolitical events s...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Former Red Bourousis wrecks Olympiakos´s hopes for a break
2. PPC to issue corporate bond of 500 mln
3. Greece offers to help find Turkish F-16 lost in 1996
4. Primary surplus continued by end-March
5. Eurobank eyes top Core Tier 1 level in Greece
6. Tourist spending up 17.3 pct
more news
Today
This Week
1. Greece startup leaders say they can’t break jobless cycle alone
2. Ground-breaking Good Friday mass signals thaw in Cyprus
3. Mayoral candidates clash over Athens mosque plans
4. Seven arrested over Toumba violence
5. National Bank of Greece plans senior unsecured bond sale
6. Greek current account deficit widens in February
Today
This Week
1. Bomb explodes outside Bank of Greece
2. CCTV footage from Nigrita Prison shows signs of inmate torture [Video]
3. Car bomb explodes outside Greek Central Bank building, no one hurt [Update]
4. Samaras sees no need for third bailout
5. Parties start announcing candidates for European Parliament elections
6. Greece readies bond sale as Athens car bomb reminds of upheaval
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.