DEPA

By Chryssa Liaggou

Athens is seeking an exit formula for oil giant Shell from the Attica Gas Corporation due to the multinational company’s intransigent attitude in negotiations for the liberalization of the natural gas retail market.

By Chryssa Liaggou

Public Gas Corporation (DEPA) will have to pay a fine of over 100 million euros to Russian energy giant Gazprom in compliance with the “take-or-pay” clause in the agreement between the two companies, as a drop demand in 2014 has not allowed for the absorption of the quantities provided for in a deal in March.

Greece can become a natural gas price hub for southeast Europe within three to four years as supply projects come together in the Mediterranean nation, according to Depa SA.

By Chryssa Liaggou

Greece’s Public Gas Corporation (DEPA) is waiting for the prime minister’s nod to reopen negotiations with Russian energy giant Gazprom on the issue of the rates at which Greece is charged for natural gas.

By Chryssa Liaggou

The government intends to implement measures reducing energy costs for enterprises, even without the approval of the European Commission, Development Minister Nikos Dendias said on Thursday following a ministerial committee meeting on industrial policy.

By Chryssa Liaggou

The Public Gas Corporation (DEPA) is processing a plan to offset the losses of the local gas supply corporations, known as EPAs, in the natural gas retail market, in cooperation with Shell and ENI, the other main stakeholders in the three EPAs in Athens, Thessaly and Thessaloniki.

Greece's gas transmission network operator DESFA has guaranteed its readiness to reverse gas flow through the reverse-flow gas grid interconnection Kulata/Sidirokastro.

As a result, Bulgaria will be able to receive gas supplies from Greece, in the case of a gas crisis.

By Chryssa Liaggou

The liberalization of the local retail market for natural gas is the main priority of the new administration at the Public Gas Corporation (DEPA), as the country’s creditors are expecting the Environment and Energy Ministry to submit the bill on the necessary changes next month.

Bulgaria will participate in the construction of a floating liquefied natural gas terminal near the Greek city of Kavala in a bid to secure constant access to natural gas.

Talks on the project are to be wrapped up by end-2014, according to the authorities in Athens, as cited by the Bulgarian National Radio (BNR).

 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.