Gazprom, Greece Discuss DEPA Privatization

Gazprom, Greece Discuss DEPA Privatization

Led by Alexey Miller, Chairman of the Gazprom Management Committee, the Company’s delegation paid a visit to Greece.

A working meeting with Kostis Hatzidakis, Greek Minister for Development took place as part of the visit. The parties addressed the current status of the bilateral cooperation in the gas sector.

In addition, Alexey Miller met with Yiannis Emiris, Chief Executive Officer of the Hellenic Republic Asset Development Fund to address the potential privatization of Greek DEPA Group.

Russian natural gas supplies to Greece started in 1996. According to preliminary estimates, in 2012 Gazprom delivered 2.5 billion cubic meters of gas to Greece.

On February 29, 2012 the Greek Government announced the start of a bidding procedure for privatization of DEPA, the state-run gas company.

DEPA is focused on wholesale purchases, sales and supplies of natural gas to industrial consumers and households in Greece. At present, the Greek Republic owns a 65 per cent stake in the company and a 35 per cent stake is held by the domestic refining company Hellenic Petroleum.

LNG World News Staff, March 21, 2013