Thursday August 28, 2014 Search
Weather | Athens
31o C
24o 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)  
Less property tax in the future, says finance minister
New development bank mulled
Bridge on Tripoli-Kalamata highway nears completion
Greece likely to miss Eurostat deadline for reassessed figures
Minister sees no need for university dismissals
Education Minister Andreas Loverdos indicated on Wednesday that he would go against government policy and refuse to fire any university administrative staff. Loverdos said that an evaluation...
Visitor numbers to Greece´s most important sites and museums grow
Culture Ministry figures indicate a significant increase in visitors to some of the country’s 38 most important archaeological sites and museums in the second quarter of this year, an improv...
Inside News
SOCCER
Ranieri brings in new faces for his first Greece squad
New Greece coach Claudio Ranieri announced Wednesday a 24-man squad for the first Euro 2016 qualifier against Romania at home on September 7. Earning a first time call up were Olympiakos 21-...
SOCCER
Roma signs Greece defender Manolas from Olympiakos for 13 mln
Greece international Kostas Manolas has joined Roma on a €13 million ($17 million) transfer from Olympiakos, as coach Rudi Garcia looks to strengthen his worrisome defense before Serie A sta...
Inside Sports
COMMENTARY
Diplomacy, not dogmatism
A friend who moves comfortably within the circles of the European establishment recently described a particularly interesting experience when he found himself in a discussion behind closed d...
EDITORIAL
Preachers of hatred
Engaging in public dialogue regarding whether the anti-racism bill is mandatory and sensible is both legitimate and necessary at this current point in time. In the meantime, however, regardl...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Less property tax in the future, says finance minister
2. Minister sees no need for university dismissals
3. New development bank mulled
4. Visitor numbers to Greece´s most important sites and museums grow
5. Coalition leaders brief ministers on strategy for troika talks
6. Jailed terrorist was preparing bomb, police say
more news
Today
This Week
1. ND gains one deputy as ousted MP sworn in Lamia mayor
2. Draghi soothes bond market after summer of strife
3. Ryanair to submit bid for Cyprus Airways
4. Venizelos hails Gaza ceasefire
5. ND honorary president taken to hospital
6. Bishop Vartholomaios of Megara and Salamina dies
Today
This Week
1. Brussels warns Greece over plans to allow construction near Korinos beach
2. Logged out of reality
3. Merkel cites euro’s ‘construction flaws’ as economy sputters
4. Attack on gay couple in Athens leaves one man needing surgery
5. Second man held over double murder in Mani
6. Purification rituals
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.