IGI Poseidon and DESFA agree on gas project cooperation
Azerbaijan, Baku, July 16 / Trend A. Badalova /
IGI Poseidon SA company reached the agreement on cooperation with Greek DESFA SA within the project ITGI (Turkey-Greece-Italy gas pipeline).
IGI Poseidon SA said that the agreement defines the operational measures to ensure proper coordination of the detailed engineering of ITGI pipeline sections. The agreement also confirms the determination of the parties on a timely and effective implementation of the ITGI project.
IGI Poseidon SA was created by the Italian company Edison and Greek company Depa for the design and construction of the pipeline Greece-Italy, known as Poseidon.
Power of the planned undersea pipeline Poseidon is 8-10 billion cubic meters of gas a year. The pipeline with a length of 212 kilometers will stretch through the bottom of the Adriatic Sea from the Greek Stavrolimenasa to Italian Otranto.
The planned capacity of ITGI pipeline is 11.8 billion cubic meters a year. Greece will get 3.6 billion cubic meters but Italy - the rest volume.
ITGI pipeline is one of the projects within the South Corridor. It envisages supplies of Azerbaijani gas to Greece and Italy.
ITGI pipeline is one of the projects within "Southern Corridor", involving gas supplies from the Caspian region and the Middle East to the EU countries. Azerbaijan is considered as the main source of supply for the projects "Southern Corridor", in particular, the gas produced within the second stage of the development of Shah-Deniz field.
DESFA SA company was founded in 2007. It is the operator of the Greek national gas transportation system.