DEPA fac­ing 100-mln-euro fine to Gazprom

Kathimerini English - - Focus - CHRYSSA LIAGGOU

Pub­lic Gas Cor­po­ra­tion (DEPA) will have to pay a fine of over 100 mil­lion euros to Rus­sian en­ergy gi­ant Gazprom in com­pli­ance with the “take-or-pay” clause in the agree­ment be­tween the two com­pa­nies, as a drop de­mand in 2014 has not al­lowed for the ab­sorp­tion of the quan­ti­ties pro­vided for in a deal in March.

DEPA has com­mu­ni­cated with Gazprom and is pre­par­ing to sub­mit an of­fi­cial re­quest for quan­ti­ties not con­sumed this year to 2015 to be rolled over, an op­tion that is al­lowed by the con­tract, though the Rus­sian company is not obliged to ac­cept.

Be­sides the man­age­ment of DEPA, the is­sue is also of con­cern to the ma­jor con­sumers of nat­u­ral gas in Greece, es­pe­cially its elec­tric­ity pro­duc­ers, as the con­tracts signed with DEPA also in­clude a take-or-pay clause in case it has to pay its sup­plier.

The changes in­tro­duced to the do­mes­tic en­ergy mar­ket’s op­er­a­tion have dras­ti­cally cut the op­er­a­tion of the nat­u­ral gas-pow­ered units, re­sult­ing in elec­tric­ity pro­duc­ers be­ing ex­posed to the take-or-pay clause. DEPA of­fi­cials also hope the de­layed on­set of win­ter will see de­mand for nat­u­ral gas rise in the com­ing weeks up to the end of the year.

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