Gazprom moves closer to buying Greek gas firm

Gazprom is squeezing Athens for better terms to buy DEPA, Greece's sole retail gas distributor, a Greek official said, as the Russian gas export monopoly leverages its position as the only major player in the running.

Binding bids are due to be submitted on 29 May for DEPA, which posted a net profit of €106 million last year. Gazprom last year made a preliminary bid of €900 million.

On the 27 May 2013, EurActiv reported that Greece agreed to change some terms in the planned privatisation of natural gas distributor DEPA, opening the way for Russian energy giant Gazprom to bid for the firm.

• Primary Source

EurActiv, 27.05.13: Greece helps Gazprom to buy its gas firm http://www.euractiv.com/energy/greece-helps-gazprom-buy-gas-fir-news-528061

Deutsche Welle, 25.05.13: Gazprom's monopoly soon a thing of the past? http://www.dw.de/gazproms-monopoly-soon-a-thing-of-the-past/a-16838930

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