Friday, November 27, 2020
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Gazprom Export to supply natural gas to Greece

Gazprom Export, a wholly-owned subsidiary of Russian energy corporation Gazprom, entered in a long-term contract for natural gas supplies with Greece’s industrial conglomerate Mytilineos. The contract will provide for gas supplies to Greece in the period from 2020 to 2030.

“The cooperation between Gazprom Export and Mytilineos is proof of the demand for Russian gas in the Greek market and it will help further strengthen the interaction between our countries in the energy sector,” said Elena Burmistrova, Deputy Chairman of the Gazprom Management Committee and Director General of Gazprom Export.

“This long-term contract will enhance the competitiveness of Mytilineos in the region’s gas market and will make a substantial contribution to maximising the efficiency of our industrial and power assets,” added Evangelos Mytilineos, Chairman of the Board of Directors and CEO of Mytilineos.

The cooperation between Gazprom Export and Mytilineos began in 2017 on the basis of short-term contracts. In 2019, a total of 588 million cubic metres of gas were delivered to Mytilineos.

Natural gas accounts for almost 20 per cent of Greece’s energy supply, although the International Energy Agency (IEA) recommended to further implement reforms in the gas and power sectors, in order to support the creation of competitive and financially viable markets that provide energy at least cost and promote energy security.

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