Copelouzos group to buy-out 50% stake of Gazprom Export in Prometheus Gas

Russian energy giant Gazprom is reportedly selling its 50-pecent stake in Greece-based Prometheus Gas, controlled by the Copelouzos Group, a major infrastructure investment company in the region. The latter will buyout the Russian side, the same reports state.

Gazprom, through its subsidiary, Gazprom Export, has partnered with Prometheus Gas for more than three decades.

Sources close to the Greece-based group cited “operational reasons” by the latter, in comments to ot.gr.

Other markets analysts said the end of the partnership was already in the works, even before the Russian invasion of Ukraine last February, with the Copelouzos Group steadily reducing its investment “footprint” in Russia over recent years.

Additionally, the Copelouzos group is among the main investors in the soon-to-operate floating storage and regasification unit (FSRU) off the port of Alexandroupolis, in extreme northeast Greece, a strategic energy project that has been solidly supported by Washington.

Sources who spoke to ot.gr said the Russian invasion of Ukraine merely accelerated the corporate “divorce”.