History

 
  • 1987 Andreas Papandreou, Prime Minister of Greece,  along with the minister of Industry Energy and Technology Minister Anastasios Peponis, had set a solid base for the development of Natural Gas Industry and proceeded with the signing  Interstate Agreement between Greece and Russia (then Soviet Union) under which a gas supply contract was signed between respective companies. It had preceded the signing of liquefied natural gas contract (LNG) between the competent energy authorities Greece and Algeria. 
  • 1988 the signing of liquefied natural gas contract (LNG) between the competent energy authorities Greece and Algeria. 
  • Public Gas Corporation (DEPA) S.A. was established in September 
  • 1988 as a subsidiary of the then Public Petroleum Corporation of Greece (DEP) S.A. Construction works started in mid-1992 for the high pressure gas pipeline from the Greek-Bulgarian border to the greater Athens area (512 km). 
  • In 1994, the first agreement for sales of natural gas was signed between DEPA and the Public Power Corporation (PPC – DEH in Greek), the country’s largest natural gas consumer, which formed the base for developing a natural gas market in Greece. 
  • In 1995 the Legal Framework of Gas operations was published, providing for the creation of Gas Distribution Companies in Greece. 
  • In 1996 the basic transmission system was completed and tested with the first gas flow. In November 1996 the first customer (Hellenic Sugar Industry) was supplied by the network. 
  • In 2000, the Liquefied Natural Gas facilities were completed in Revithousa island and the first cargo of LNG arrived in Greece from Algeria. 
  • In the same year, an international tender was carried out to select the private investors for the establishment of the two first Gas Supply Companies (EPAs) in Thessaloniki and Thessalia. DEPA holds a 51% stake in the above companies, while the remaining 49% and management rights belong to the private investor. 
  • In 2001, under the same procedure, the third Natural Gas Supply Company (EPA) was established in the region of Attica. 
  • In 2003, a Gas supply contract, from Turkey to Greece, through the Turkey – Greece Gas Interconnector was signed between DEPA and BOTAŞ (TGI). Construction works of TGI Gas Pipeline started in 2005 and operation commenced in 2007. Agreement was signed between Greece and Italy regarding the promotion and implementation of the Greece – Italy Interconnector as a continuation of the Turkey – Greece Interconnector. A similar tri-lateral Interstate Agreement was signed in 2007 among Italy-Greece – Turkey. 
  • Deregulation of the domestic gas market was effected through Law 3428 ratified by the Parliament in 2005. Based on this a legally unbundled TSO Company (DESFA SA) was formed in 2007 under a Presidential Decree as DEPA’s subsidiary. Law 3428 stipulates the operational independence of the two companies, and within this framework, all DESFA Board Members are appointed 
  • by the Greek government for the first ten years from DESFA’s establishment. 
  • Full ownership and control of the National Natural Gas Transmission System, including the LNG Terminal, was transferred to DESFA. 
  • In 2008, the Greece-Italy offshore gas pipeline company (ITGI Poseidon S.A.) was incorporated. 
  • In 2010, agreement was signed between ITGI Poseidon S.A. and Bulgarian Energy Holding (BEH) for the realization of the Greece-Bulgaria Interconnector following the previous signing of an MOU between respective parties. 
  • Full control of the National Natural Gas Transmission System, including the LNG installation, was transferred to DESFA.
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