Gazprom, Greek firm Mytilineos ink natural gas deal
11:09, 02/06/2020, TuesdayU: Update: 11:12, 02/06/2020, Tuesday
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File photo :Gazprom logo is seen on a gas processing column under construction at Amur gas processing plant, part of Power Of Siberia project outside the far eastern town of Svobodny, in Amur region, Russia November 29, 2019
Agreement will be valid between 2020 and 2030
Gazprom Export, a wholly-owned subsidiary of Russian gas giant Gazprom, and Greek energy company Mytilineos signed a long-term contract for natural gas supplies.
“The cooperation between Gazprom Export and Mytilineos is proof of the demand for Russian gas in the Greek market, and it will help further strengthen the interaction between our countries in the energy sector,” Elena Burmistrova, director-general of Gazprom Export, was quoted as saying in a statement issued by Gazprom on Monday.
The agreement will be valid between 2020 and 2030, however, the natural gas volume to be shipped to Greece was not confirmed in the statement.
“This long-term contract will enhance the competitiveness of Mytilineos in the region's gas market and will make a substantial contribution to maximizing the efficiency of our industrial and power assets,” said Evangelos Mytilineos, CEO of Mytilineos.
According to the latest official data, Greece's natural gas consumption for 2018 was recorded as approximately 5 billion cubic meters.
The cooperation between Gazprom Export and Mytilineos S.A. began in 2017 based on short-term contracts.