Ukraine (bbabo.net), - Gazprom plans to withdraw from the Russian-Greek joint venture Prometheus Gas. This company was created to sell gas and develop energy infrastructure in Greece.

Gazprom will exit Prometheus Gas and sell its 50% stake to the second shareholder, the Greek group Copelouzos. It is reported by AFP, citing a source in the Greek group. The interlocutor of the agency explained that Gazprom was leaving the joint venture due to sanctions, but the gas supply contract continued to be valid until 2027. Last year, due to high prices, Russian gas volumes declined, he added.

Information about the plans of the Russian company is confirmed by the agenda of the meeting of the board of directors of Gazprom on January 27. Termination of participation in Prometheus Gas was one of the issues.

Gazprom and Copelouzos created Prometheus Gas in 1991 to develop the Greek energy infrastructure, and in 2017 agreed to supply up to 1 billion cubic meters of gas per year for ten years. Copelouzos reports that they have built more than a thousand kilometers of main gas pipelines, 340 km of medium and low pressure distribution networks, one compressor station, as well as measuring stations.

Prometheus Gas was not the largest importer of Russian gas. DEPA has an agreement up to 3 billion cubic meters per year until 2026. The industrial group Mytilineos also has a contract.

FNEB Deputy Director Aleksey Grivach notes that Prometheus Gas resold gas to “its” enterprises and customers through its gas distribution stations. The expert believes that the reason for Gazprom's exit may be the inability to conduct trading and distribution business in the EU in the current conditions.

bbabo.Net