Gazprom To Cut Price By 15%
News: Russian gas company Gazprom has entered an agreement to reduce gas prices by 15% for Greece's state-owned natural gas company Dimosia Epichirisi Paroxis Aeriou (DEPA), reports Kathimerini, citing reports of from the Greek energy ministry. The new price, which will be applied on a retroactive basis as of July 1 2013, is expected to be less than US$400 per 1,000 cubic metres, compared with the current US$470 paid by DEPA. Under terms of the agreement, DEPA will receive 2.5-3bn cubic metres of natural gas annually. The new contract is an extension of the existing agreement between the state-owned companies by 10 years until 2026.