On February 25, 2016, in Rome Alexey Miller, Chairman of the Gazprom Management Committee, Marc Benayoun, Chief Executive Officer of Edison SpA and Theodoros Kitsakos, Chief Executive Officer of DEPA SA, signed the "Memorandum of Understanding in relation to gas supplies from Russia across the Black sea through third countries to Greece and from Greece to Italy” to develop a gas pipeline project between Greece and Italy, enabling the realization of a southern route for the Russian gas supply to Europe.
The signing ceremony followed a meeting between Alexey Miller and Federica Guidi, Minister of Economic Development of Italy which took place in Rome today. The ceremony was attended by George Tsipras, Secretary General International Economic Relations of the Ministry for Foreign Affairs, Hellenic Republic.
The agreement outlines the parties’ interest in a route for natural gas supplies from Russia - across the Black Sea and through third countries - to Greece and from Greece to Italy. For this purpose the parties intend to use to the maximum possible extent the works already performed by Edison and Depa in relation to the ITGI Poseidon project.
"The development of intra-European gas transmission capacities is an important element in securing reliable supplies of gas, including Russian gas, to consumers across Europe,” said Alexey Miller.
"The possible development of this new supply corridor, to be pursued in full accordance with EU legislations and regulations, will foster Italian security of supply and its role as major southern European gas hub, in line with the National Energy Strategy objectives”, Marc Benayoun noted on the occasion of signing.
"The revival of the ITGI-Poseidon project strengthens Europe’s energy security with an additional supply corridor and further enhances Greece’s role as a major gateway for gas from diversified sources and routes,” said Theodoros Kitsakos.
The ITGI gas pipeline was first proposed by DEPA and Edison in early 2000’s, as a route to bring Caspian gas to Italy. The project was abandoned in 2012 following selection of TAP by the Shah Deniz II consortium. The ITGI segment now to be developed by the DEPA/Edison and the Gazprom group will involve the Adriatic underwater segment (217 km) and the land based one in Western Greece (250 km). The pipeline will eventually link to the TESLA pipeline via FYROM and Serbia.
