DEPA spared from paying Gazprom take-or-pay amount for 2015

DEPA, the Public Gas Corporation, has been spared from paying Gazprom Export an amount worth roughly five million dollars that resulted from the activation of a take-or-pay clause concerning unabsorbed natural gas in 2015.

DEPA, which had been negotiating with Gazprom for quite some time in search of a solution, absorbed less natural gas than it had ordered in 2015 as a result of lower demand in the weakened Greek market.

Neither DEPA nor the corporation’s consumers will be burdened by the resulting take-or-pay clause’s penalty following the successful outcome of talks with Gazprom, the Greek gas company announced.

Last month, DEPA agreed to pay Gazprom 36 million dollars, down from an amount of 82 million dollars initially demanded by the Russian gas giant, for unabsorbed natural gas concerning 2014.