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Gazprom, DEPA and Edison sign Memorandum of Understanding

Alexey Miller, Chairman of the Gazprom Management Committee, Marc Benayoun, CEO of Edison SpA, and Theodoros Kitsakos, CEO of DEPA SA (photo), signed on February 24th the Memorandum of Understanding on natural gas deliveries across the Black Sea from Russia via third countries to Greece and from Greece to Italy in order to establish a southern route to deliver Russian natural gas to Europe.

The signing ceremony took place after the meeting held in Rome between Alexey Miller and Federica Guidi, Italian Minister of Economic Development. The ceremony was attended by Giorgos Tsipras, Greek Foreign Ministry’s Secretary General for International Economic Relations.

The agreement reflects the interest of the parties in the natural gas supply route across the Black Sea from Russia via third countries to Greece and from Greece to Italy. In working towards that goal, the parties are committed to take advantage of the work done by Edison and DEPA within the ITGI Poseidon project to the fullest extent possible.

“The expansion of the intra-European gas transmission capacities is an essential component for enhancing the reliability of gas supply, including from Russia, to consumers all over Europe,” said Alexey Miller. “The potential development of a new supply route, that is planned to be implemented in full compliance with EU laws, will strengthen Italy’s gas supply security as well as its role as an important natural gas supply hub in Southern Europe, which is in line with the objectives of the National Energy Strategy,” Marc Benayoun added.

According to Theodoros Kitsakos, “the revival of the ITGI Poseidon project improves Europe’s energy security with an additional supply route and enhances the role of Greece as a corridor for natural gas deliveries from diversified sources and routes”.