Headed by Alexey Miller, Chairman of Gazprom’s Management Committee, Gazprom’s delegation has completed its visit to the Greek Republic, meeting with Kostas Karamanlis, Greek Prime Minister, Dimitris Sioufas, Greek Development Minister, top executives of the Greek Public Gas Corporation DEPA and the Russian-Greek joint venture Prometheus Gas.

The parties discussed issues of long-term cooperation in the gas sector, addressing the possibility of increasing Russian gas supply to Greece, in particular, extending the existing Contract after 2016 and developing new transmission routes (with the Blue Stream pipeline to be potentially used along with the Balkan corridor), which might lead to Greece’s converting into a transit country when gas is delivered to southwestern Europe. The meetings also addressed the Bourgas - Alexandroupolis oil pipeline construction issue.

The parties also looked into Prometheus Gas’ involvement in Russian gas marketing to Greek consumers and Gazprom’s investment in the Greek energy sector and chemical industry.

Held in a warm and friendly atmosphere, the meetings pointed to the need of setting up a joint Commission (involving representatives of DEPA, Prometheus Gas, Gazprom, Greece’s Development Ministry and Russia’s Energy Ministry) to scrutinize all the above issues.

Reference:

Russian natural gas has been supplied to Greece based on the 7 October 1987 Intergovernmental Agreement and a supporting Contract between the All-Union Foreign Trade Organization Soyuzgazexport (currently Gazexport) and the Greek Public Gas Corporation DEPA.

Over 2005 Gazprom provided Greece with some 2.5 bcm of gas.

Established in 1991 to promote Russian-Greek cooperation in the gas sector, Prometheus Gas is a 50/50 joint venture of Gazexport and the Copelouzos Bros. Group Ltd. Prometheus Gas is engaged in the construction of a string of energy facilities in Greece.