Gazprom Will Discuss the Termination of Participation in the Greek Company Prometheus Gas S.A.
The Chairman of the Board of Directors of Prometheus Gas is the Deputy Head of Gazprom, General Director of Gazprom Export E. Burmistrova.
At a meeting on January 27, 2023, the Board of Directors of Gazprom will discuss the termination of the holding’s participation in the Greek company Prometheus Gas S.A.. The information follows from the materials of the Russian company.
Prometheus Gas S.A. was established in 1991 with an equal share participation of Gazprom Export and Copelouzos Bros Group Ltd to develop Russian-Greek cooperation in the gas sector.
The Chairman of the Board of Directors of the Greek-Russian joint venture Prometheus Gas S.A. is the Deputy Head of Gazprom, General Director of Gazprom Export E. Burmistrova.
Recall that deliveries of Russian natural gas to Greece began in 1996 on the basis of a contract concluded in 1988 between Soyuzgazexport and DEPA, a Greek state company that sells gas to large consumers and gas distribution companies.
The contract provided for the supply of up to 3 billion m3/year of gas until 2016.
In 2014, the contract was extended until 2026.
In October 2016, natural gas supplies began to Prometheus Gas, a joint venture between Gazprom Export and the Greek company Copelouzos, created for the construction of energy facilities in Greece.
In October 2017, a long-term contract was signed for the supply of up to 1 billion m3/year of gas to Greece in the period from January 1, 2018 to December 31, 2027.
Since 2017, Gazprom Export has also been supplying natural gas to Mytilineos, one of the largest industrial companies in Greece involved in metallurgy, energy and EPC projects.
At first, supplies were based on short-term contracts, and in June 2020, the companies entered into a long-term 10-year contract until 2030.
Thus, there are currently 3 main importers of Russian natural gas in Greece:
- State gas company DEPA Commerce,
- Mytilineos,
- Prometheus Gas.
