What will Greece do about Russian gas – Why Bulgaria and Poland did not pay in rubles

The deadline for payment of DEPA Commerce, the largest importer of Russian natural gas, of the planned installment for the receipt of quantities of fuel from Gazprom expires in less than 30 days.

This is stated by sources to OT, and as they add in terms of the method of payment required by Moscow and Gazprom “there is time to determine the final position to be taken by the state company.” In fact, the same circles point out that on this issue, ie whether DEPA Commerce will pay the next installment in euros and then through an account opened by Gazprom Bank the amount will be converted into rubles, there is close cooperation between the Prime Minister and the Minister of Environment and Energy.

However, in Athens, as circles in the know assure OT, the competent authorities have taken all the necessary measures for the energy adequacy of the country in case of violent interruption of the supply of Russian gas that reaches the National System through the Turk Stream and the Bulgarian pipeline. As it has already become known, lignite mining is increasing for fuel efficiency in electricity generation, units that produce 1 GW of electricity have the ability to run on oil instead of natural gas, while DESFA is launching the floating tank to increase LNG capacity. of the Revythousa terminal. Negotiations are also said to have taken place with the Azeris for the supply of additional quantities of gas through the TAP pipeline.

It is recalled that major importers of Russian gas are Mytilineos and Prometheus Gas (Kopelouzos group). Their moves vis-à-vis Gazprom will be largely determined by the attitude of the Greek government, while it should be emphasized that the aforementioned players have a different agreement on how to pay. Information want to make pre-purchases of the quantities they need, while they are already said to have increased LNG purchases.

Bulgaria and Poland

Regarding the events with the interruption of the gas supply from Gazprom to Poland and Bulgaria, information available to OT, indicates that the state companies of the two countries had contracts with Gazprom which expired at the end of 2022. So the appropriate preparations to meet their needs have been made.

Particularly in neighboring Bulgaria, the same sources point out, the needs for Russian gas are limited to heating and industry. That is, the Bulgarians do not need this fuel for electricity generation. So the quantities are minimal.

Sofia has arranged for the replacement of Gazprom gas by renting storage facilities at the DESFA terminal in Revythousa with its gas reaching its market through the Hellenic Natural Gas System. In addition, it has made arrangements for the receipt of quantities from the TAP pipeline. For this reason, the Bulgarians are in a hurry to complete the construction and start of commercial operation of the IGB pipeline (Greece – Bulgaria Interconnection pipeline).

Sources also state that the Bulgarians have made relevant agreements with Greek players in the gas market, ie to buy from them the quantities they need.

“Consequently,” according to the same OT sources, “the Poles and the Bulgarians have the margin to refuse the way Moscow is required to pay for the quantities of Russian gas.”