Share Acquisition Agreement Gazprom in a joint venture Prometheus Gas from Copelouso Group. On Friday, January 27, Gazprom is expected to ratify an agreement to sell its 50% stake in Prometheus Gas to a group that will now control 100% of the company established in 1991 to transport Russian natural gas to Greece. It was the second contract after DEPA for the supply of natural gas to the Greek market by Gazpromexport, a wholly owned subsidiary of Gazprom, signed under a revised 1987 intergovernmental agreement between Greece and the then Soviet Union.

Prometheus Gas then secured, under certain conditions, a pre-emptive right to supply natural gas to the Greek market and in 2016 transferred the first batches of Russian gas to the Greek system, breaking DEPA’s monopoly on supplying gas through pipelines for the first time. The company has a contract with Gazprom Export for a period up to 2027 for a total volume of 700 million cubic meters. annually, of which 400 were appointed by the PPC. This contract, according to sources in the Kopelouzos group, is not affected by Gazprom’s exit from Prometheus Gas.

The end of a long-term collaboration between the Kopelouzos group did not come as a surprise to the market, as the Greek group began reorganizing its strategic alliances over the course of several years, shifting the focus from pipeline gas and Russia to LNG and the US, anticipating geopolitical changes in the energy sector over time.

The implementation of FSRU Alexandroupolis is the result of a plan that began many years ago and met with strong support from the United States and at the same time the annoyance of Russian partners.

The Kopelouzou Group is planning another FSRU in Alexandroupolis and together with PPC and DEPA is building a natural gas plant in the same area and also spearheading a plan to rehabilitate the Burgas-Alexandroupolis oil pipeline in reverse, a plan that will enhance the detoxification of the Balkan countries from Russian oil, strengthening a pan-European strategy promoted with US support.