OREANDA-NEWS. April 18, 2011. Saint Petersburg hosted today a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Dimitrios Copelouzos, Chief Executive Officer of Prometheus Gas – a Russian-Greek joint venture.

The parties discussed the current state of the energy sector in Greece and the prospects for the Prometheus Gas activity expansion in the local gas market.

The meeting participants gave special consideration to potential interaction of the companies within the new transnational facilities construction, in particular the South Stream gas pipeline.
Background

Russian natural gas has been delivered to Greece since 1996 under the Intergovernmental Agreement dated October 7, 1987 signed on the basis of the contract between Soyuzgazexport (present Gazprom export) and the Public Gas Corporation of Greece (DEPA). The contract is valid through 2016 and provides for an extension opportunity.

Preliminary figures indicate that in 2010 Gazprom export supplied 2.1 billion cubic meters of natural gas to Greece.

Prometheus Gas is a Russian-Greek joint venture owned by Gazprom export and Copelouzos Bros. Group Ltd. on a parity basis. The company was established in 1991 to develop cooperation in the gas sector between Russia and Greece. Prometheus Gas is constructing a number of energy facilities in Greece.