« Gazprom “, the Italian Edison SpA and Greek DEPA SA signed a memorandum on gas supplies. It assumes that that gas will go from Russia under the Black Sea and through “third countries” to Greece, and then – from Greece to Italy
Rome memorandum
“Gazprom” CEO Alexei Miller, CEO of the Italian Edison SpA Mark Benayun and CEO of Greek DEPA SA Theodoros Kitsakos at the meeting, which was held in Rome, signed a memorandum of understanding involving the supply of natural gas from Russia under the Black sea through third countries to Greece and from Greece to Italy, according to a press release of “Gazprom».
The agreement was signed with the purpose of “organizing the southern route of Russian natural gas to Europe”, states the company.
in the “Gazprom” report stresses that the parties are interested in the route of natural gas supplies from Russia under the Black sea through third countries to Greece and from Greece to Italy and “maximum use” for these purposes will be the results of work carried out by Edison and DEPA, the project ITGI Poseidon.
«potential project of a new supply route, the implementation of which will be carried out in full compliance with EU legislation will increase the reliability of gas supply in Italy and strengthen its role as a major gas hub in southern Europe, which corresponds to the objectives of the National energy strategy “- is contained in a press release statement by Mark Benayuna
Before signing the document Miller met with the Minister of economic development of Italy, Federica Guidi.. At the signing was attended by the secretary general of the Ministry of Foreign Affairs of Greece in international economic relations Giorgos Tsipras.
«Revival project ITGI Poseidon strengthens the energy security of Europe, thanks to the emergence of additional supply chain and enhances the role of Greece as a major corridor for gas supplies from different sources and routes “, – said Theodoros Kitsakos
draft by € 1 billion
ITGI (Interconnector Turkey – Greece – Italy) -. natural gas pipeline planned in the project Southern gas corridor from Turkey through Greece to Italy. Poseidon – the construction of the offshore portion of the project ITGI pipeline, which will be held on the Ionian Sea and connect the gas transmission system in Greece and Italy, states in a press release of “Gazprom”. Participants IGI Poseidon S.A. on an equal footing are the Edison and DEPA.
The agreement on construction of the Poseidon gas pipeline was signed in 2002, it was signed by the Greek DEPA and Italian Edison. It was designed for the construction of the thread from the Greek Stavroliminasa to Italian Otranto. The cost of this project was estimated in 2008 at € 1 billion, the construction of the offshore section -. € 350 million Land Turkey-Greece at the same time was completed in 2007, at that time the future of the Greek-Italian thread remained unknown
. Previously, to supply gas to southern Europe via the planned Russian gas pipeline “South stream” capacity of 63 billion cubic meters. m, which was to pass through the territory of Bulgaria. However, in December 2014 Moscow abandoned its construction. This happened after the stop work on the project in June 2014 decided the Bulgarian government led by Plamen Oresharski. This decision Sofia explain the discrepancy of the project requirements of the EU
Later, “Gazprom” announced that similar capacity the pipeline will be built under the Black Sea by the end of 2016, but it will not lead to Bulgaria and Turkey -. To the hub on the Turkish-Greek border, he received the title of “Turkish stream”. However, after November 24, 2015 the Turkish Air Force shot down a Russian Su-24 bomber, in early December, Russia has suspended talks on the project.
At the beginning of January 2016 in a press there were rumors about a possible resumption of the “South Stream” . Such plans, wrote the Bulgarian newspaper Standart, Bulgaria’s Prime Minister Boyko Borisov reportedly told his entourage. However officially this information is not confirmed in the government. For information on the resumption of negotiations on the “South Stream” denied in the Kremlin and the Russian Energy Ministry said that the work on the project is still suspended.
How to get around Turkey
Commenting on the draft of a new gas pipeline under the Black sea, the director of East European Gas Analysis Mikhail Korchemkin suggested that a third country, which are mentioned in the memorandum, could be implied Bulgaria: otherwise you will not get to Greece in view of deteriorating relations between Russia and Turkey. And by “using the results of work” within the ITGI Poseidon may have in mind to study the route, along which could go new gas pipeline, the expert made.
Korchemkin doubt that this project will be implemented. Now “Gazprom” is not on him for money, and the western contractors will be afraid to conclude with “Gazprom” agreement under the threat of sanctions against it. The conclusion of this memorandum will enable Edison and DEPA to receive Russian gas prices, and Russian contractors will continue the construction of the southern corridor – gas pipelines-carts on Russian territory to the Black Sea, which are now frozen due to the suspension of the “South Stream” and uncertainty “Turkish Stream . “, says expert
Memorandum Gazprom to Edison and DEPA like trying resuscitation of one of the branches of the” South stream “- it also had to pass through Bulgaria to Greece and Italy (in parallel Poseidon), says UBS analyst Maxim Moshkov. But the EU endorsement is still there, without it is impossible to implement this project, he says.
«This project is preliminary, no feasibility study (FS) or prices, said RBC’s source in” Gazprom ” . “God forbid, to the end of the year they appear”, – he added. According to him, the memorandum aims to spur talks on the “Nord Stream-2″ (to pass along the shore of the Baltic Sea), which the Russian company is with the European Commission, worried that without Russian gas may be the southern countries of Europe [in the event of termination of transit through Ukraine ]. “We do not know how to get to the Black Sea, it is possible only through the economic waters of Turkey, it is now complicated relationship – continues interlocutor RBC. – As an alternative to the negotiations with Bulgaria and Romania »
In the Turkish Botas, the Italian Edison and Greek DEPA could not provide RBC with comments
How many” Gazprom “has already spent on the Black Sea projects
Korchemkina estimated that the total cost for the construction of” South stream “in the territory of Russia (Southern corridor) amounted to € 13 billion, and in view of the preparatory work in Europe -. € 17-20 billion Following the rejection of the construction of the “South stream”, “Gazprom” has paid another 56 billion rubles. (About $ 1 billion at the time of declaration) European partners – Eni, Wintershall and EdF for they own 50% South Stream Transport (operator of the underwater part of the pipeline), reported the Russian company in March 2015. In addition, in December 2015 the Italian contractor Saipem, selected for the construction of the underwater part of the “South Stream”, filed a lawsuit against “Gazprom” on the € 759 million as a payment already made work.
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