ECONOMY
Wed 15 Mar 2023 9:36 pm - Jerusalem Time
Gazprom intends to withdraw from the Greek "Prometheus Gas" consortium
Moscow (AFP) - " Gazprom " intends to withdraw from the Greek "Prometheus Gas" consortium, which it owns equally with the Greek "Kopelozos", which will fully acquire the share of the Russian gas giant, according to two identical sources familiar with the file, according to Agence France-Presse. .
"Gazprom's board of directors has decided to terminate its participation in Prometheus Gas SA," a source in Gazprom's management told AFP.
"It supplies Russian gas to Greece in accordance with contractual obligations," he added.
"It is a consensual divorce, caused mainly by the war in Ukraine and the European sanctions," said an official of the "Kopelozos" group in Athens, who requested anonymity.
The official stressed that the end of the partnership, which dates back to 1991, "will be decided within 15 days," and that "the current contract in effect expires in December 2027."
The Greek official stressed that the amount of Russian gas "has decreased significantly since last year, while prices have increased."
The specialized Greek press recently reported a "divorce" between "Gazprom" and "Prometheus Gas", stressing that the "Kopelozos" group will become the sole shareholder in "Prometheus Gas".
The "Monunews" news website, which specializes in financial affairs, indicated last week that it is an "expected development" given the geopolitical changes and the complete transformation of gas markets in the Balkans and Europe.
The Greek "Kopelozos" group recently made new investments in an electricity production plant and a LNG storage and regasification plant in Alexandroupolis, in northeastern Greece.
Despite its historical association with Russia, Greece, as a member state of the European Union, has supported Western sanctions imposed on Moscow since the start of the Russian invasion of Ukraine.
These sanctions resulted in a significant reduction in Russian gas supplies to Europe.
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Gazprom intends to withdraw from the Greek "Prometheus Gas" consortium