Gazprom – the world’s largest gas company – is familiar to many in this
part of Europe. Over the 15 years that we have
been delivering uninterrupted supplies of Russian natural gas to Hellas, the Greeks, I hope, had never had a pretext to
doubt our reliability, loyalty to our commitments, and our solidarity.
This human solidarity is manifested with the fact that we are always
ready to meet our partners half-way in case of an emergency. Like it happened
last unexpectedly cold winter when Gazprom for a long period of time supplied “blue
fuel” in an amount exceeding the agreed contractual daily volumes, and thus,
being in the right place at the right time, we were able to help the Greeks. As
your common saying goes – Ο καλός φίλος στην ανάγκη φαίνεται (a friend in need
is a friend indeed).
Now we are considering the possibility of purchasing the 100% share of
DEPA Group in accordance with its announced privatization procedure. Why did
Gazprom apply for participation in this tender? There are several reasons.
First, the application naturally fits into Gazprom group’s strategy on
reaching the end user, be it the electric energy sector or the segment of
retail customers. The development of this market segment will increase the
efficiency of our business across the entire value chain, and therefore will be
beneficial to our shareholders that assess Gazprom’s activities in terms of earning
power and profits.
Secondly, Gazprom’s entry into the market opens up an additional “window
of opportunity” for Greek consumers: this is a real chance to gasify some
regions of Greece
where there are still no stable gas supply. In particular, the prospect of
providing cheap and environmentally friendly fuel to Greek islands through
supplies of low-tonnage liquefied natural gas (LNG) opens up. The obvious
mutual benefit of gasification needs no proof.
Thirdly, the acquisition of DEPA would allow Gazprom to dialogue
directly with the end users, that is, to avoid intermediaries thereby optimizing
costs and expenses. In addition, and equally important, Gazprom’s capital
investments not only have a stimulating effect on production, but also allow for
the solving of many social problems, saving old jobs and creating new ones,
thus increasing the purchasing power of the people. These capital investments
generate effectual demand, and thus stimulate the economy through the sphere of
consumption.
Fourthly, in all foreign markets where Gazprom group is operating, our
gas business is acquiring a social dimension, which is no less important for
us. As a socially-oriented company, Gazprom, through charity and sponsorship
programs, encourages intellectual and spiritual growth. For example, it
conducts the International Children’s Program “Open World” together with its
partners in Austria and Germany, organizes cultural events – for instance, the
concert “The Russian Music and Painting of the Early 20th Century in 3D” became
a remarkable event within the framework of Day of Russia celebrations in
Serbia. Together with Poland,
Gazprom is implementing a 5-year scholarship program for post-graduate students
from the Warsaw University, etc.
Finally, Gazprom’s arrival in Greece, this time as a strategic
investor, will be perceived as a positive signal by the business community and
society in general. This would be a clear evidence of the statements made by
the Greek officials that the national economy is recovering since both public
and private investors who are ready to make such long-term capital investments
started showing interest.
Strengthening Gazprom’s position in the Greek market will contribute to
macroeconomic stability, mark an improvement in the predictability and
stability of the energy market; it will also have a positive impact on the not
very favorable psychological climate that has formed around Greece over the
years that it is overcoming the crisis. I have no doubt that Hellas
deserves a better destiny – and should in fact expect the best.
We at Gazprom always cherished and valued our reputation as a
responsible company. We rely upon free-market values guided by the principles
of fair play; we are ready for an open and transparent competition, and do not
want to mix politics with economics. However, I am forced to admit that the
Russian people are ready to mix economics with our long-held and sincere
sympathy for the Greek people. Again, we have another common proverb: Πες μου
ποια είναι η συντροφιά σου να σου πω την ανθρωπιά σου (Tell me who your friends
are and I will tell you who you are).