Headed by Alexey Miller, Chairman of the Gazprom Management Committee, a Gazprom delegation has paid a visit to the Greek Republic, meeting with Dimitris Sioufas, Greek Development Minister and Konstantinos Karamanlis, Greek Prime Minister.

The parties underscored that Russian-Greek cooperation successfully develops and Gazprom is reliable partner for the gas supply sector. The meeting addressed the prospects for further expansion of Russian gas deliveries to Greece and issues relevant to prolongation of the existing contracts up to 2040. The meeting also discussed issues in relation to opportunities of Gazprom and Greece within the energy market liberalization. The meetings also addressed the Bourgas - Alexandroupolis project implementation.

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Russian natural gas is supplied to Greece under the Intergovernmental Agreement of October 7, 1987 as well as the associated Contract signed between Soyuzgazexport (currently – OOO Gazprom Export) and the Greek State Gas Corporation DEPA. In 2006 OOO Gazprom Export supplied Greece with some 2.74 bcm of gas.

According to estimates of the Development Ministry of Greece, Gazprom covers nearly 80 per cent of Greece’s gas needs. By 2010 natural gas consumption in power generation and industrial household sector is projected to grow to 6.5 bcm.