Gazprom agrees to sell gas to Greece’s DEPA at reduced price

Greek gas company DEPA has reached an agreement with Russia’s Gazprom on a 15 per cent price cut on the supply of gas.

The price slash will be backdated to last July, the Greek Ministry of Energy announced on February 25 2014.

The new agreement extends a current deal between the two companies by 10 years to 2026 provides for a more flexible take-or-pay agreement to supply DEPA with between 2.5 and 3 billion cubic metres of natural gas each year.

For the full story, please click here.