Gazprom Provides Gas Price Reduction to Depa

Russia's state-controlled Gazprom cut its prices for Greece's state-controlled Depa in the first quarter of this year.

The discounting was disclosed by deputy head of Gazprom's export arm, Sergei Chelpanov.

"We took certain steps aimed at increasing the competitiveness of Russian gas to the Greek market," Chelpanov said.

But, I would not dare say that gas supplied to Greece is cheap," he continued. In 2010, Gazprom supplied 2.1 billion cubic metres of natural gas to Greece.

Gazprom is currently in a dispute with several of its European customers over oil indexed, long-term gas supply agreements. Customers including RWE AG and E.ON, intend to proceed to arbitration in an attempt to resolve the issue.