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Gazprom, Edison, DEPA discuss optimal route to supply Russian gas to south of Europe

December 13, 2016, 20:43 updated at: December 13, 2016, 20:48 UTC+3 MOSCOW

On February 24, 2016, Gazprom, Edison and DEPA signed a memorandum on gas supplies from Russia across the Black Sea and third countries to Greece and from Greece to Italy

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© Valery Sharifulin/TASS

MOSCOW, December 13. /TASS/. Gazprom, Italia’s Edison and Greek have discussed an optimal route of supplies of Russian gas to the south of Europe, the Russian gas holding said in a press release.

According to the statement, on Tuesday, a working meeting between Gazprom CEO Alexei Miller, Chairman of the Gazprom Management Committee, Marc Benayoun, Executive Vice President of EDF and CEO of Edison SpA, and Theodoros Kitsakos, CEO of DEPA SA, took place at the Gazprom headquarters.

"The parties discussed the ongoing cooperation within the Memorandum of Understanding, speaking in particular about determining an optimal route of gas exports from Russia to Greece and further to Italy," the company said.

"The meeting participants stressed that the companies’ cooperation would contribute to development of additional gas transmission capacities in Europe and would reinforce energy security of the southern part of the continent," according to the press release.

On February 24, 2016, Gazprom, Edison and DEPA signed a memorandum on gas supplies from Russia across the Black Sea and third countries to Greece and from Greece to Italy. The purpose of the agreement is to organize the southern route of Russian gas supplies to Europe.

Greek DEPA group is focused on wholesale purchases, sales and supplies of natural gas to industrial consumers and households in Greece. At present the Greek Republic owns a 65% stake in the company and 35% is held by the domestic oil refining company Hellenic Petroleum S.A.

Italian Edison SpA is a subsidiary of EDF. Its business areas include procurement, exploration, production and sale of hydrocarbons, as well as production and sale of electrical power.

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