Agreement between Turkey, Greece and Italy will help ITGI to accelerate conclusion of gas contract with Azerbaijan

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.

We are having tea in pear-shaped glasses, baklava on Jidir Duzu. Let our friends rejoice, enemies get blind! - President Aliyev (PHOTO/VIDEO)
We are having tea in pear-shaped glasses, baklava on Jidir Duzu. Let our friends rejoice, enemies get blind! - President Aliyev (PHOTO/VIDEO)
It is such unique feeling to see Shusha, to return to Shusha - President Aliyev
It is such unique feeling to see Shusha, to return to Shusha - President Aliyev
Commander-in-Chief came to Shusha for first time in 30 years and, frankly, does not want to leave - President Aliyev
Commander-in-Chief came to Shusha for first time in 30 years and, frankly, does not want to leave - President Aliyev
Loading Bars
Latest
5.4-magnitude quake jolts southern Iran
Hotel occupancy increases in all Georgian regions
Trump directs government to minimize procurement from China
WhatsApp to delay launch of update business features after privacy backlash
Brazil reports more than 1,000 COVID deaths for fourth consecutive day
Number of COVID-2019 cases across globe up by over 709,000 in past day
UN chief calls for "far greater solidarity" in message on 2 millionth COVID-19 death
Money transfers to Georgia up in December 2020
WHO advises against proof of COVID-19 vaccination for int'l travel
BMW to recall 21,693 cars in Russia
We are having tea in pear-shaped glasses, baklava on Jidir Duzu. Let our friends rejoice, enemies get blind! - President Aliyev (PHOTO/VIDEO)
It is such unique feeling to see Shusha, to return to Shusha - President Aliyev
Commander-in-Chief came to Shusha for first time in 30 years and, frankly, does not want to leave - President Aliyev
Those who grew up over 17 years have liberated these lands - President Aliyev
Prepare report here, not in your cabinets - President Aliyev to international organizations
Global COVID-19 deaths surpass 2 mln
People of Azerbaijan will live in Shusha forever - President of Azerbaijan
All martyr families will be provided with apartments and houses by state - President Aliyev
In May 1992, Shusha was occupied as result of betrayal of PFPA-Musavat duo - President Aliyev
Today, I brought busts of our geniuses Khurshidbanu Natavan, Uzeyir Hajibayli and Bulbul to Shusha - President Aliyev
It is impossible to imagine Shusha without Jidir Duzu, and Azerbaijan without Shusha - President Aliyev
Mausoleum of Molla Panah Vagif was inaugurated exactly 39 years ago, I was standing right here - President Aliyev
After desecrating busts of our genius personalities, Armenians took them to Armenia to be melted down and sold - President Aliyev
Armenia must answer in international courts - Azerbaijani MFA
I said no, we will take these busts back only after liberating Shusha from enemy, put them in their original places - President Aliyev
Iran ready to establish joint automobile company in Iraq
Kyrgyzstan’s public debt reaches USD 4 bln 887.46 mln
Turkey reports over 8,000 new COVID-19 cases
UK records another 55,761 coronavirus cases, 1,280 deaths
Israel has vaccinated over 2 mln people against COVID-19
Britain tightens borders to keep out new COVID-19 strains
Kazakhstan's national operator for main oil pipelines reports decrease in oil transport
Int'l community must condemn Armenia's actions against Islamic religious monuments - Azerbaijani MP
Azerbaijani Economic Council holds first meeting in 2021
Shusha's residents proud of seeing Azerbaijani president in Shusha city
Group supporting Russian export to Azerbaijan renders assistance for foreign trade transactions in 2020
President of International Judo Federation congratulates Azerbaijani president
Azerbaijan increases total volume of exported gas in 2020
European Gymnastics to focus on competitions planned for 2021
Azerbaijan's foreign trade balance remains positive in 2020
Export operations between Azerbaijan and Australia greatly increase
Azerbaijan establishes National Agency for Mine Clearance of Territories of Azerbaijan
Int'l structures willing to cooperate for 'Green Energy Zone' in Azerbaijan's Karabakh (PHOTO)
Georgia reveals volume of electricity imported from Azerbaijan
Georgian Hualing Group implements new construction project
Georgia outstripping European preferences for innovations in some areas - MasterCard
Afghanistan always supports Azerbaijan in its just cause - Ambassador
Azerbaijani, Finnish FMs discuss latest situation in region
Whole world to see rapid economic recovery in Azerbaijan's liberated lands - Russian MP
Azerbaijani, Russian FMs exchange views on tasks of Jan. 11 joint statement
Georgian Enguri HPP rehabilitation project carried out with support of EBRD and EU
President of Georgia, NATO Secretary-General to meet in Brussels
How can leaders of Muslim countries be friends with country that destroyed mosques? - President Aliyev
President Aliyev presented Holy Quran to Saatli Mosque
In near future, we will ensure restoration of Shusha in planned manner - President of Azerbaijan
Despite all pressures, phone calls and threats, I said that we would go to end - President Aliyev
I have come to Shusha using the victory road - President Aliyev
Great return begins, all work has begun - President of Azerbaijan
Uzbekistan, Tajikistan resume regular flights
Azerbaijan sees growth trend in car insurance segment
Azerbaijan’s PASHA Bank ends 2020 with big profit
Wells Fargo profit beats Wall Street estimates as credit costs fall
Citigroup quarterly profit beats estimates as loan loss provisions slow
OSCE Chairperson-in-Office appoints Special Representative for South Caucasus
Parliament's plan on steel sector to damage Iran's exports - Steel Producers Association
Azerbaijan announces starting date for COVID-19 vaccination
Port of Baku starts cooperating with Belgium-based int'l training center
Azerbaijani ombudsman visits persons detained during anti-terror operations in liberated lands
Most of Uzbekistan’s population to be provided with COVID-19 vaccine
International DOPPELMAYR to finish construction of Georgian ropeway
Demand for marble products of plant in Turkmenistan’s Akhal region increased
Azerbaijan shows video footage from Gasimli village of Aghdam district (PHOTO/VIDEO)
Uzbekistan reconstructs number of water supply and sewerage networks Bukhara region in 2020
Azerbaijan discloses amount of compensation paid to depositors of closed banks
New gas compressor station put into operation in Turkmenistan
Jewelry production plant launched in Uzbekistan’s Tashkent
Georgia sees increase in subsistence minimum
Establishing Nakhchivan corridor will add new artery to Middle Corridor - AIR Center
Georgian citizens to have high-quality COVID-19 vaccines
Azerbaijan confirms 494 more COVID-19 recoveries
First Vice-President Mehriban Aliyeva: I am very happy to be in our liberated ancient city of Shusha (PHOTO/VIDEO)
Karabakh regional branch of Regional Development Public Association to operate in Shusha
Azerbaijan, Pakistan discuss prospects for development of military co-op
Azerbaijan's 11M2020 expenses for importing EU goods up
BMW aims to double fully-electric vehicle sales in 2021
Embassy of India organizes online business meeting to promote Indian Basmati rice (PHOTO)
Askar Mamin reappointed Kazakhstan's prime minister
Azerbaijani wagon washing station shows record performance following automation (PHOTO)
Azerbaijan reveals number of vessels repaired at 'Bibiheybat' Shipyard in 2020
Schoolchildren gain their first achievement in 2021 with Azercell’s support
Azerbaijan’s import of fruits, nuts down in 2020
FAO supports Uzbekistan’s Kashkadarya region during COVID-19 pandemic
Azerbaijani president, first lady visit building of executive power, house-museum of Bulbul in Shusha
Kazakhstan decreases goods import from Austria amid COVID-19
MP suggests Iran obtains its frozen assets in S.Korea via essential goods
CISCO increases number of services to be automated in Azerbaijan
Ukraine excludes Azerbaijan from list of dangerous countries due to COVID-19
Azerbaijani big bank’s capital up as of 2020
Passenger transport volumes plummet in Kazakhstan in 2020
WHO summarizes results of activities in Turkmenistan for 2020
All news