Press Release - 28.01.2016

Comments on press article

PRESS  RELEASE

With regard to a recent article concerning an alleged amount due by PPC to DEPA due to a “liquidity issue",  PPC clarifies the following:

-          PPC consistently pays the invoices of natural gas supply issued within the context of its existing long-term contract with DEPA. As a matter of fact, the recent payment by PPC to DEPA, on 22.1.2016, which is the contractual date of payment of the invoices for the supply of natural gas for December, amounting to EUR 57.3 million, contradicts beyond any doubt the reference of the said article on the inability of PPC to meet its payment obligations due to liquidity problems. 

-          Within the context of the implementation of the long-term contract between PPC and DEPA,  an economic difference has gradually built up between the two Parties amounting to a much lower level than the EUR 30 million mentioned in the article, regarding which there is already an initial agreement between the two Parties in addressing the issue. Therefore there is no question of overdue debt.

 Athens, January 28, 2016

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