DEPA files for arbitration over prices in Gazprom deal

Greek gas supplier DEPA Commercial has filed for arbitration to seek a price revision on its gas supply contract with Gazprom, DEPA CEO Constantinos Xifaras has said.

The state-controlled company is seeking a retroactive lowering of the gas price in the contract signed in 2022, as well as relief from future payments worth hundreds of millions of dollars, according to several sources with knowledge of the matter.

Asked about talks with Gazprom at the Power and Gas Forum in Athens, Xifaras said: "We have been in negotiations … for about two years, one-and-a-half years, on price readjustment, because this is what we've been seeking.

"Commercial negotiations are ongoing now, they haven't stopped, however, the company… has taken the next step which is to go to arbitration."

Gazprom did not reply to a request for comment. DEPA was not immediately available to...