Greece: Gazprom – Mytilineos sign ten-year agreement

Greece: Gazprom – Mytilineos sign ten-year agreement

Gazprom Export, a subsidiary owned entirely by Russian gas giant Gazprom, and Greek energy company Mytilineos have signed a long-term gas supply contract.

“The cooperation between Gazprom Export and Mytilineos is proof of the demand for Russian gas in the Greek market and will help further strengthen the interaction between our countries in the energy sector”, Elena Burmistrova, CEO of Gazprom Export, said in a statement issued by Gazprom on Monday.

The agreement will be in force between 2020 and 2030, however, the volume of natural gas to be sent to Greece has not been confirmed in the statement.

“This long-term contract will strengthen Mytilineos’ competitiveness in the region’s natural gas market and will substantially help maximize the efficiency of our industrial and energy assets”, said Evangelos Mytilineos, CEO of Mytilineos SA.

According to the latest official data, gas consumption in Greece for 2018 was recorded at about 5 billion cubic meters.

The cooperation between Gazprom Export and Mytilineos SA started in 2017, based on short-term contracts./ibna