DEPA

Greece will not privatize gas company DEPA, according to Energy Minister Panagiotis Lafazanis.

A few days after issuing a decree obliging state companies to hand over their cash reserves to the state, Finance Ministry officials on Wednesday sought to spread the net as wide as possible to ensure authorities can pay civil servants? salaries and pensions this month.

Energy Minister Panayiotis Lafazanis on Wednesday insisted that Greece will roll back privatizations despite pledges made to the country's foreign lenders earlier this week.

By Chryssa Liaggou

By Chryssa Liaggou

Natural gas will be 20 percent cheaper for Greek consumers by March, while the first 5 percent drop in rates will come next month thanks to the significant decline in the commodity’s global prices, according to Environment, Energy and Climate Change Deputy Minister Makis Papageorgiou.

By Chryssa Liaggou

Athens is seeking an exit formula for oil giant Shell from the Attica Gas Corporation due to the multinational company’s intransigent attitude in negotiations for the liberalization of the natural gas retail market.

By Chryssa Liaggou

Public Gas Corporation (DEPA) will have to pay a fine of over 100 million euros to Russian energy giant Gazprom in compliance with the “take-or-pay” clause in the agreement between the two companies, as a drop demand in 2014 has not allowed for the absorption of the quantities provided for in a deal in March.

Greece can become a natural gas price hub for southeast Europe within three to four years as supply projects come together in the Mediterranean nation, according to Depa SA.

By Chryssa Liaggou

Greece’s Public Gas Corporation (DEPA) is waiting for the prime minister’s nod to reopen negotiations with Russian energy giant Gazprom on the issue of the rates at which Greece is charged for natural gas.

By Chryssa Liaggou

The government intends to implement measures reducing energy costs for enterprises, even without the approval of the European Commission, Development Minister Nikos Dendias said on Thursday following a ministerial committee meeting on industrial policy.