Gazprom Group considers potential bidding for DEPA

16.03.2012

The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Dimitrios Copelouzos, Chief Executive Officer of Prometheus Gas. Gazprom Group considers potential bidding for DEPA

The parties addressed the prospects for Russian-Greek cooperation deepening in the energy sector. In particular, they looked at the current status and the outlook for the Greek gas market and the Prometheus Gas JV standing.

In addition, Alexey Miller and Dimitrios Copelouzos discussed the possibilities for Gazprom Group to take part in Greek DEPA Group privatization through a bidding procedure. Background

In 2011 Gazprom supplied Greece with 2.9 billion cubic meters of natural gas.

Prometheus Gas is a Russian-Greek joint venture owned by Gazprom Export and Copelouzos Bros. Group on a parity basis. The company was established in 1991 to develop cooperation in the gas sector between Russia and Greece. Prometheus Gas is constructing a number of energy facilities in Greece.

On February 29, 2012 the Greek Government announced the start of a bidding procedure for privatization of DEPA, the state-run gas company.

DEPA is focused on wholesale purchases, sales and supplies of natural gas to industrial consumers and households in Greece. At present, the Greek Republic owns a 65 per cent stake in the company and a 35 per cent stake is held by the domestic refining company Hellenic Petroleum.

Information Directorate, OAO Gazprom