Agreement between Turkey, Greece and Italy will help ITGI to accelerate conclusion of gas contract with Azerbaijan
Azerbaijan, Baku, June 18 / Trend, A. Badalova /
An agreement signed between Turkey, Greece and Italy is a big step in implementation of the project of Turkey-Greece-Italy (ITGI) pipeline, because the document finally determines the basis for gas transit through Turkey, but also provides an opportunity to accelerate the conclusion of the gas contract with Azerbaijan to pump fuel via ITGI, Roberto Poti, Executive Vice-President says.
The Italian company Edison, Greek Depa and Turkish Botas signed a Memorandum of Understanding this week, which defines the terms of gas transit through Turkey's territory within the ITGI project.
According to Edison, the memorandum defines the general terms of gas transit through Turkey's territory within the ITGI project. It also envidages the use of existing infrastructure of Botas, which runs to the Greek border for gas pumping.
"ITGI can open the Southern Corridor in the short period, and thus open the way for the export of the Azerbaijani gas to Europe. The pipeline is a strategic infrastructure that will significantly increase the European energy security, as this will be the first link with the Caspian region, which has about 20 percent of the world gas reserves," Poti said.
According to the DEPA Greek Gas Corporation Chairman and Executive Director Harry Sachinis, the agreement extends and deepens the cooperation between the three companies, as well as the further use of the existing gas pipeline Turkey-Greece. He said the agreement also creates possibility of delivery of the Caspian and Middle Eastern gas to Europe through the existing infrastructure, as well as through the planned ITGI pipeline.
The ITGI transport corridor will transport Azerbaijani gas to Greece and Italy and includes updated Turkish pipeline infrastructure and also ITG projects such as the Turkey-Greece junction pipeline and IGI. The Greece-Italy junction pipeline is a missing link of the Turkey-Greece-Italy transport corridor, which enables gas transports from the Caspian region and Middle East to Italy and Western Europe via Turkey and Greece. The ITGI's designed carrying capacity is 12 billion cubic meters per year.
The ITGI pipeline will stretch from Azerbaijan across Georgia via the existing Baku-Tbilisi-Erzerum Pipeline to Turkey, Greece and Italy across the Ionian Sea.
The pipeline will put into operation in 2015
The Italian company Edison is responsible for construction of pipeline plot between Greece and Italy through the bootom of the Adriatic Sea, which can be completed by 2012.