DEPA seeks Gazprom talks

Under pressure from its competitors in the wholesale market and its likely exit from the retail market upon the insistence of the country's creditors, Greece's Public Gas Corporation (DEPA) is seeking a lifeline.

DEPA chief executive Theodoros Kitsakos is expected to visit St Petersburg, where Gazprom is based, in the coming days to discuss a series of issues linked to their gas supply contract, after the Russian company supplied gas quantities to DEPA's local rival, Prometheus Gas.

DEPA believes this constitutes unfair competition as Gazprom can offer the commodity to Prometheus, its subsidiary, at far lower rates.