The Greece-Italy pipeline
is a planned natural gas pipeline for transportation of natural gas from Caspian region
. When it is completed, it is expected to carry between 8 billion and 10 billion cubic meters of natural gas annually.
The intergovernmental agreement for the construction of pipeline was signed on 4 November 2006
by Italian Minister for Productive Activities Claudio Scaiola
and Greek Development Minister Dimitris Sioufas
. Also Turkish Minister of Energy and Natural Resources Hilmi Güler
was present at the ceremony. On 26 July 2007
, the additional protocol on construction was signed in Rome. On 11 June 2008, the project company IGI Poseidon SA was incorporated in Italy.
The length of Greece-Italy pipeline will be more than , of which approximately will be built in Greece and more than will be laid on the seabed of Ionian Sea
. The pipeline will be connected to the Greek gas system outside Thessaloniki
. The offshore section (also known as Poseidon pipeline
) will be built between Igoumenitsa
Greek gas company DEPA
is responsible for the construction of Greek section. The offshore section will be constructed by GI Poseidon SA, a joint company of DEPA SA and Italian Edison S.p.A.
The construction will start in 2009 and the pipeline is expected to become operational in 2012. The offshore section will cost €500 million and the Greek section will cost €600 million. The capacity of pipeline is planned to be 8 billion cubic meters (bcm) of natural gas annually.