Azerbaijan, Baku, Jan. 16 /Trend, A.Badalova/
ITGI (Turkey-Greece-Italy pipeline) is the most mature pipeline project of the Southern gas Corridor in terms of licensing and financing, the Institute of Energy for South East Europe (IENE) said in its recent study.
"The ITGI gas pipeline contributes decisively to the diversification of energy supplies that is so much necessary for Europe and which the EU seeks to ensure," IENE said.
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. It includes updated Turkish pipeline infrastructure and the Turkey-Greece junction pipeline and IGI. Its planned capacity is 11.8 billion cubic meters per year.
IENE in its study gave a comparative analysis of the benefits that Greece will gain from three competing potential gas pipelines transcending the country - ITGI, TAP and South Stream. For the comparison between the above three pipelines, the study considered 15 specific criteria including economic viability, the degree of preparedness of each pipeline in terms of implementation, as well as the added value for Greece.
According to IENE, ITGI emerges as the most desirable option for Greece and the broader South east European region.
"From Greece's point, ITGI will undoubtedly bring in higher investments at local level and will also enhance security of energy supply, providing natural gas from the Caspian region to the Greek market, securing, at the same time, the operation of the regional gas distribution companies in Epirus and Western Macedonia," IENE's study said.
It must further be noted that ITGI emerges as the most mature project in terms of licensing, risk minimization, engineering design and funding with the full involvement of key European institutions, IENE believes.
"A significant part of its infrastructure is already in place, through the Greek-Turkish interconnector, and there only remains the completion of its branching to Western Greece and its underwater part towards Italy," the study said.
ITGI along the other pipeline projects within the Southern Gas Corridor have submitted final proposals to the Azerbaijani side, which will make its decision on preferable transportation route by the end of 2011. Gas, which will be produced within the second phase of Azerbaijani Shah-Deniz gas field development is regarded as the main source for all projects.