Gazprom offers 2 billion euros to Greek market

Russia’s state-run gas monopoly Gazprom has offered a little less than 2 billion euros to DEPA, Greece’s state owned gas company. Despite the fact that this sum is much higher than DEPA’s real value, this deal may help the Russian company to strengthen its monopoly on the Greek energy market and its position on the European market.


DEPA is supplying gas to major consumers in the country, and 65% of its shares belong to the Greek government, while the rest – to local private companies engaged in oil refining. Last year, DEPA was offered for sale due to the country’s debt problems. Among the other bidders are two local companies, Russia’s privately-run Sintez company and Socar, Azerbaijan’s state gas company.
However, it’s unclear which company will get the Greek government’s preference. On the one hand, the Greek and European creditors are interested in selling the company at the highest price. In view of this, Gazprom’s offer could not have come at a better time. On the other hand, The Russian company’s offer worries Washington. Reportedly, the White House called on the Greek government not to convert the country into a hostage of one company when making the choice of the purchaser of DEPA. This is a direct hint of Gazprom. In fact, the Russian gas company’s action will hardly welcome by the European Union. The reason here is that if Gazprom buys DEPA, then it will become a serious competitor in European gas projects, says analyst at the RusEnergy Company Mikhail Krutikhin.

“At present, Europe and Israel are planning to supply gas from Israeli deposits and future gas fields that are now being developed off Cyprus. Gas from these deposits will be supplied through Greece. If Gazprom buys the Greek company, this will guarantee not only its presence but also practical control over the Greek gas supply network and create a monopoly there. Most likely, the EU will hardly agree with such a deal and will do its best to prevent it from striking,” Mikhail Krutikhin said.

The deal might strengthen the Russian company’s influence on Europe, says senior analyst in oil and gas sector of “Uralsib Kepital” Alexei Kokin.

“After buying the company and the launching of the South Stream gas pipeline in the future, Greece, Bulgaria, Serbia and Croatia will come under the control of Gazprom as a supplier of gas. Surely, this might worry some politicians in the world,” Alexei Kokin said.

In fact, Gazprom has found an opportunity to increase its gas supply to Europe. The reason is the tense situation in Algeria after the bloody incident linked to the hostage taking at the In Amenas gas facility managed by British Petroleum. Reportedly, the company might suspend its work.

Concerning the DEPA deal, Greece has not commented on the offers by Gazprom and other bidders yet.
 .ruvr.ru
21/1/13
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  Ανακόλουθη η Gazprom Απέναντι στην Ελλάδα για τον South Stream 

   

  ΣΧΕΤΙΚΑ GAZPROM ΚΑΙ FYROM:

  http://www.gazprom.com/map/ 

  http://www.gazprom.com/map/FYROM