Greek gas utility DEPA has taken a first step towards actualizing an international trading role in the wider Balkan region, a strategy mapped out by its administration, by clinching a deal to supply a 1.5 million-MW quantity of natural gas to Bulgaraz. The development represents DEPA’s first natural gas sale abroad.
DEPA was the winning bidder of an auction staged by the Bulgarian energy company for its first ever purchase of natural gas not stemming from Russia’s Gazprom Export, the Balkan country’s standard gas supplier through a long-term supply agreement.
Besides DEPA, the Bulgaraz auction also involved Dutch company Colmar and Bulgaria’s Dexia.
The natural gas quantity ordered by Bulgaraz through its auction is scheduled to be delivered by the summer through a Greek-Bulgarian pipeline connection. Russian gas reaches Greece through this reverse-flow pipeline.
DEPA, as part of its plan to expand its gas trading activities in the wider Balkan region, is seeking Gazprom permission to sell Russian gas in Balkan markets. Gazprom has yet to offer such an approval.