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ITGI ready to deliver Russian gas to EU market

Oil&Gas Materials 28 February 2012 12:51 (UTC +04:00)
The ITGI consortium (Interconnector Turkey-Greece-Italy) project is willing to import Russian gas to the European markets after being excluded from the list of candidates for delivering Azerbaijani gas to Europe, IGI Poseidon CEO and head of international gas infrastructures in Italian energy company Edison Elio Ruggeri said in interview with Reuters.
ITGI ready to deliver Russian gas to EU market

Azerbaijan, Baku, Feb. 28 / Trend A.Badalova /

The ITGI consortium (Interconnector Turkey-Greece-Italy) project is willing to import Russian gas to the European markets after being excluded from the list of candidates for delivering Azerbaijani gas to Europe, IGI Poseidon CEO and head of international gas infrastructures in Italian energy company Edison Elio Ruggeri said in interview with Reuters.

Ruggeri said that the consortium "is open to accept sources of gas from any producing country," including Russia and the east Mediterranean Sea, which holds significant unexploited reserves in Israeli and Cypriot waters.

ITGI is one of the proposed projects within the Southern gas Corridor, which involves gas supplies from the Caspian region and the Middle East to the EU countries.

TGI system includes the interconnector Greece-Bulgaria (IGB) and IGI. The planned capacity of ITGI is 11.8 billion cubic meters per year. The project is being developed by Italy's Edison SpA (EDN.MI) and DEPA. The total estimated ITGI project cost is 1.5 to 2 billion euros. The initial planned capacity of the ITGI pipeline will hit 10 billion cubic metres per year. One billion cubic metres will be transported to Bulgaria, one billion cubic metres to Greece, while the remaining eight billion cubic metres will go to Italy.

The Edison and Depa companies established IGI Poseidon SA to develop and construct the Greece-Italy pipeline known as Poseidon.

Earlier this month Shah Deniz consortium excluded ITGI from the list of those being considered to export Azerbaijani gas to the European countries, and made TAP (Trans Adriatic Pipeline) a priority route for export of Azerbaijani gas to Italy. The decision was made in accordance with the previously announced criteria for the export of gas (10 billion cubic meters) under the Shah-Deniz-2 project to the European countries.

"Selecting a less advanced project like TAP risks delaying supplies of Caspian gas to Europe...this is a clear consequence of the current decision," Ruggeri said.

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