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24 Feb , 2016

Poseidon: Gazprom, DEPA, and Edison sign the Memorandum of Understanding

On 24th  February  2016 the Shareholders of IGI Poseidon, respectively DEPA SA with 50% and Edison SpA  with 50%, signed with Gazprom the “Memorandum of Understanding in relation to gas supplies from Russia across the Black sea through third countries to Greece and from Greece and Italy” to develop a gas pipeline project between Greece and Italy, enabling the realization of a new route for gas supply.

The agreement outlines the parties’ interest in a route for natural gas supplies from Russia - across the Black Sea and through third countries - to Greece and from Greece to Italy. For this purpose the parties intend to use to the maximum possible extent the works already performed by Edison and Depa in relation to the ITGI Poseidon project.

On 24th  February  2016 the Shareholders of IGI Poseidon, respectively DEPA SA with 50% and Edison SpA  with 50%, signed with Gazprom the “Memorandum of Understanding in relation to gas supplies from Russia across the Black sea through third countries to Greece and from Greece and Italy” to develop a gas pipeline project between Greece and Italy, enabling the realization of a new route for gas supply.

The agreement outlines the parties’ interest in a route for natural gas supplies from Russia - across the Black Sea and through third countries - to Greece and from Greece to Italy. For this purpose the parties intend to use to the maximum possible extent the works already performed by Edison and Depa in relation to the ITGI Poseidon project.