DEPA

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.

Greece's creditors are pressing for the withdrawal of the Public Gas Corporation (DEPA) from the natural gas retail market, and quickly too, according to information confirmed by sources from within DEPA.

The Public Gas Corporation (DEPA) is apparently paying the price for a Greek decision to facilitate business plans that pave the way for American liquefied natural gas (LNG) to head through Greece to the Balkans and Central Europe - as in the case of the LNG terminal off Alexandroupoli - and for its own handling of the extension of the Turkish Stream pipeline.

The deadline for binding offers to book capacity of the Interconnector Greece-Bulgaria (IGB) project has been extended to the end of November, the project company has said.

The deadline for binding offers for the use of the natural gas pipeline between Bulgaria and Greece has been extended by a month to the end of November due to requests from bidders, the joint venture that runs the project said on Monday.

The joint venture building the natural gas pipeline between Bulgaria and Greece is seeking binding bids for the use of the gas link by the end of October, its chief executive said on Monday.

Interconnector Greece-Bulgaria (IGB), estimated to cost 220 million euros, has received nine expressions of interest to transport gas through it for a total capacity of 4.3 billion cubic meters.

Russian President Vladimir Putin is arriving in Greece on May 28, with the main subject topping his agenda being the promotion of a new conduit for the transmission of Russian natural gas via Bulgaria and Greece, including the utilization of the plan for the Interconnector Greece-Italy (IGI) pipeline.

Bulgaria's government has received six indicative offers to use capacity of the gas interconnector that is to be built between Bulgaria and Greece, Energy Minister Temenuzhka Petkova has said.

Russian energy giant Gazprom has said it signed a memorandum with Italy's Edison SpA and Greece's DEPA SA on gas deliveries.

A Paris-based arbitration court has decided on the behalf of Turkey's gas grid Bota? in a case against Greece's state-run energy company DEPA, said Turkish Energy Minister Taner Y?ld?z. 

"We opened an arbitration case, which was between Bota? and DEPA, in Paris four years ago. The court has made its decision on the behalf of Turkey," Y?ld?z said.