Greece to buy Russian gas at discounted price of $396 per 1,000 cubic metres

“The contract satisfies both Greece and Gazprom. It provides for annual gas supplies of about two billion cubic metres from 2016,” Georgios Chelikidis, the General Manager of Prometheus Gas S.A. says...

ATHENS, June 05./ITAR-TASS/. Greece will buy Russian gas at a price of $396 US dollars per 1,000 cubic metres, Georgios Chelikidis, the General Manager of Prometheus Gas S.A., a Greek-Russian joint venture with participation of Russia’s Gazprom Export, told ITAR-TASS on Thursday.

He said Greece had recently signed a contract with Russia’s gas giant Gazprom within the framework of the current intergovernmental agreement on gas supplies up to 2016, with an option of extending it for ten years more. “We have signed a good contract with Gazprom, both in terms of the price and in terms of supplies volumes,” Chelikidis said. “The contract satisfies both Greece and Gazprom. It provides for annual gas supplies of about two billion cubic metres from 2016. Moreover, it provides for a certain margin - the Greeks may take more if they need.”

In his words, cooperation with Russia was carried out “at a rather high level.” “There is good understanding. Gas price talks proceeded smoothly and the price was fixed at $396 per 1,000 cubic metres,” he noted. “The agreement was extended for ten years more, till 2026, which only strengthens our cooperation.” The long-term contract on Russian pipeline gas supplies via Bulgaria “has ensured development prospects for Greece,” Chelikidis said.

When he had been asked if possible construction of a branch line from the South Stream gas mains Athens had recently asked if it could help Greece to diversify gas supplies, Chelikidis said, “Naturally.” “Apart from becoming a transit country for natural gas, Greece would have a good alternative route in case gas supplies via Ukraine are interrupted,” he noted.
According to earlier reports, Greece’s Ministry of Environment, Energy and Climate Change said on February 25 that the country’s state gas company DEPA and Russia’s Gazprom had agreed a 15% discount on the current gas price exported to Greece. The agreement on discounts would have a retroactive effect and would be applicable to gas supplies executed after July 1, 2013. This agreement would be in force within the framework of the current intergovernmental agreement till 2016 and could be extended for ten years.
[itar-tass.com]
5/6/14
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Russia seeks to privatize its suffering ‘friend’ Greece. -Greece is also home to a robust Russian diaspora.

Russian investors are pursuing deals to help cash-strapped Greece privatize its economy and pay off its huge debt. Russian Railways RZD may take a 100 percent state in Greek’s TRAINOSE, and Gazprom has renewed talks with state-owned gas company DEPA.
Valentina Matviyenko, the Speaker of the upper house of Russia's Parliament has expressed her government's vested interest in the Greek economy. She's traveling with a group of Russian investors looking to to get a slice of Greece's privatization.
"Our position is that would not be an acquisition of assets, but rather a support for friendly Greece at the complicated economic stage," Matvienko said.

Greece hopes privatization and expansion of the railway will help it contribute to the 19 billion euro target Greece aims to raise to cut debt. Greece has received over $315 billion (240 billion euros) since 2010 from Troika lenders. 

With Russian investments in Greek railways estimated at up to $3 bln annually, Greece would become part of the Eurasian transportation network, bringing both more passengers and goods to and from Europe. 

TRAINOSE transports 15 million passengers and 4.5 million tonnes of freight annually, and posted 148.2 million euros in revenue. In June it was valued at 30 million euros.
Greece’s crisis, which has haunted the economy for 6 years, has forced it to dismantle and privatize its state assets to meet its austerity targets under the international bailout plan. In July, Greece failed to sell-off its national gas company DEPA. Gazprom, Russia’s state-owned natural gas giant, backed out of buying DEPA at the last minute, citing concerns over the company’s financial stability. But it is now again in talks with the company. 

On Tuesday Valentina Matviyenko, arguably one of the most powerful women in Russia, is wrapping up her three-day visit to Greece in her role as Chairman of the Federation Council. 
Matiyenko met with Prime Minister Antonis Samaras, was awarded the Gold Medal of the Greek Parliament in a special ceremony, discussed energy industries, the Syrian conflict, and Greek’s upcoming presidency of the EU, which will run January-June 2014.
Matviyenko’s visit to Greece is significant, as she can use her sway as parliament speaker, as well as her business connections as ex-mayor of St. Petersburg, to smooth Russia-Greece economic cooperation. 

Russia and Greece have long had close economic ties mainly through tourism.
In 2012, 1.2 million Russians visited Greece on holiday. Russians are known for their lavish spending habits abroad, Matviyenko said, and estimated each individual Russian tourist spends on average 1000 euro on shopping and entertainment, a direct cash injection into Greece’s troubled economy.  

• The two countries are working to together to lift travel visa restrictions, in order to get more tourist revenue from Russia.

• Greece is also home to a  robust Russian diaspora- nearly 300,000 Russian nationals now reside some 1,400 miles south of Moscow, largely a result of emigration. 

 http://rt.com/business/russia-greece-matviyenko-gazprom-963/
17/9/13
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Gazprom squeezes Greece for better terms as sole major bidder for DEPA

Gazprom officials are in Athens for talks on acquiring Greece's public gas distributor DEPA. Gazprom is already DEPA’s major supplier and there are concerns the EU could block the deal in an attempt to limit Russia’s presence in its energy market.
According to local media reports, Gazprom head, Aleksey Miller himself is taking part in the negotiations.
Gazprom is trying to negotiate favorable terms for the deal, stressing its sole major bidder position in the privatizing process of DEPA, Reuters reports. These are the third round of negotiations since March 2013, and this time Gazprom wants to achieve guarantees from DEPA creditors to clear its debt of €380 million before taking over the company.
Gazprom also wants to postpone the payment of a bid guarantee of 20% of the deal's value until the European Union approves the acquisition of DEPA by the Russian firm.
Gazprom is DEPA’s main gas supplier, which has raised concerns the EU might block or impose stern conditions on the deal, as it’s trying to loosen Russia’s grip on EU energy market.

Binding bids are due to be submitted by May 29. Gazprom's only rival for DEPA is M&M Gas, a joint venture by Greek energy firms Motor Oil and Mytilineos.

In a previous attempt to sell DEPA in 2003, Greece excluded the utility's gas suppliers from submitting bids, but it did not include that condition this time.
 .rt.com
21/5/13
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  ΣΧΕΤΙΚΑ GAZPROM ΚΑΙ FYROM:

  http://www.gazprom.com/map/ 

  http://www.gazprom.com/map/FYROM