Friday Jan 30, 2015 Search
Weather | Athens
16o C
13o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Gazprom grants DEPA 15 pct discount

 Deal securing cheaper Russian natural gas for industries and households applies from July 2013 for 10 years

By Chryssa Liaggou

The Environment and Energy Ministry announced on Tuesday that Greece has secured a 15 percent discount on natural gas from Russian energy giant Gazprom for 10 years, adding that the measure will be retroactively applied from July 2013.

Prime Minister Antonis Samaras to Russian President Vladimir Putin facilitated the deal through personal interventions, the ministry said.

The statement does not reveal the rate agreed between the Greek and Russian sides – citing a confidentiality agreement – but competent sources say that has been set at $395 per 1,000 cubic meters of natural gas, against $460/1,000 c.m. in the last quarter of 2013.

The new rate, according to the ministry, puts Greece close to the average of continental European Union countries and is among the lowest in the region as far as long-term contracts with Gazprom are concerned.

The ministry has already ordered the management of the Public Gas Corporation (DEPA) to change the rates it charges customers as of April and to return 15 percent of the price paid since last July, which according to DEPA sources adds up to 70 million euros. Energy-intensive industries and electricity producers will get their discount directly from DEPA, while household consumers and small enterprises will get it from their local gas supply companies in Athens, Thessaloniki and Thessaly.

The agreement is expected to be signed by mid-March, after being approved by the DEPA and Gazprom boards. The DEPA board will convene next week to discuss the deal.

“This is a very good deal for DEPA, its customers and the country. It offers flexibility regarding quantities in a period of uncertainty, and increases security in the country’s supply with Russian gas that has proved to be a reliable source,” the chairman and chief executive officer of DEPA, Haris Sahinis, told Kathimerini.

The 15 percent rate cut, combined with the discount the Greek utility has secured for its Algerian imports and the price it expects from Turkey’s Botas after the conclusion of the arbitration process, form a very competitive portfolio for DEPA. Critics, however, said Greece should have secured a greater discount and a longer period of retroactivity, from January 2013, as other countries had achieved equal or larger discounts two years earlier.

ekathimerini.com , Tuesday February 25, 2014 (22:50)  
Increase in minimum salary is left aside for now
Decline in euro rate has exporters eyeing growth in 2015
TAIPED is stripped of its management and most projects
Tourism to build on last year’s massive growth
Judges´ report on Golden Dawn case expected next week
A final decision by the Council of Appeals Court Judges weighing the merits of the case against ultranationalist party Golden Dawn is expected next week, marking the final step for the case ...
Karamanlis, Bakoyannis discuss ND´s future
Ex-Foreign Minister Dora Bakoyannis remained tight-lipped on Friday after an hourlong meeting with former Prime Minister Costas Karamanlis as New Democracy continues to absorb the impact fro...
Inside News
SOCCER
Gattuso: Unpaid OFI players couldn´t buy food
Former coach Gennaro Gattuso has lifted the lid on the plight of crisis-club OFI Crete which has been banned from playing in the Super League until it clears mounting debts with its staff. T...
SOCCER
Olympiakos draws AEK in Cup quarterfinals
The dream draw of Olympiakos vs AEK in the quarterfinal materialized on Friday, as two of the capital's three giants will face off in a two-leg tie for a place in the semifinals of the Greek...
Inside Sports
INTERVIEW
SYRIZA must come up with ‘pragmatic solutions,’ Schulz tells Kathimerini
“SYRIZA must realize that it is now the Greek government, not a party running an election campaign,” European Parliament President Martin Schulz, the first European official to visit Greece ...
COMMENTARY
Strange haste
The members of the new government must have a lot of confidence in themselves. Several days before announcing his program, Prime Minister Alexis Tsipras and his cabinet have opened up a mult...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Increase in minimum salary is left aside for now
2. Decline in euro rate has exporters eyeing growth in 2015
3. TAIPED is stripped of its management and most projects
4. Tourism to build on last year’s massive growth
5. HFSF portfolio sees its value diminish
6. Judges´ report on Golden Dawn case expected next week
more news
Today
This Week
1. SYRIZA must come up with ‘pragmatic solutions,’ Schulz tells Kathimerini
2. Why Greece went left while Europe turns to right
3. Capital flees Greece at fastest pace since 2011
4. Greek government's signals very mixed, ECB's Jazbec says
5. EU's Schulz: Greece should follow EU line on Russia
6. Monastiraki restaurant fire prompts panic, restricted before spread
Today
This Week
1. Greek Elections 2015 | LIVE
2. SYRIZA heads for historic victory but without majority
3. Greek Elections 2015 | LIVE
4. Greek Elections 2015: The day after | LIVE
5. SYRIZA's win will test institutions
6. Poll shows SYRIZA leading ND by 4 pct
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.