In Rome Alexey Miller, Chairman of the Gazprom Management Committee, Marc Benayoun, Chief Executive Officer of Edison SpA and Theodoros Kitsakos, Chief Executive Officer of DEPA SA, signed 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 signing ceremony followed a meeting between Alexey Miller and Federica Guidi, Minister of Economic Development of Italy which took place in Rome today. The ceremony was attended by George Tsipras, Secretary General International Economic Relations of the Ministry for Foreign Affairs, Hellenic Republic.

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.

“The development of intra-European gas transmission capacities is an important element in securing reliable supplies of gas, including Russian gas, to consumers across Europe,” said Alexey Miller.

“The possible development of this new supply corridor, to be pursued in full accordance with EU legislations and regulations, will foster Italian security of supply and its role as major southern European gas hub, in line with the National Energy Strategy objectives”, Marc Benayoun noted on the occasion of signing.

“The revival of the ITGI-Poseidon project strengthens Europe’s energy security with an additional supply corridor and further enhances Greece’s role as a major gateway for gas from diversified sources and routes,” said Theodoros Kitsakos.

About Edison

Edison, second largest gas company in Italy, is active in production and sale of electric power and hydrocarbons with an increasing interest abroad, especially in the E&P sector through 58 concessions and permits in Italy and 37 outside the country: Egypt, Norway, Croatia, Algeria, UK and Israel. In the E&P business the company can count on hydrocarbons reserves for a total amount of 360 million cubic meters equivalent, including reserves in the Egyptian concession of Abu Qir, of which Edison holds all the rights since 2009. Edison gas supply is 15.8 billion cubic meters and covers about a fifth of Italian needs.

About Gazprom

Gazprom is a global energy company. Its major business lines are geological exploration, production, transportation, storage, processing and sales of gas, gas condensate and oil, sales of gas as a vehicle fuel as well as generation and marketing of heat and electric power.

Gazprom views its mission in reliable, efficient and balanced supply of natural gas, other energy resources and their derivatives to consumers.

Gazprom holds the world’s largest natural gas reserves. The Company’s share in the global and Russian gas reserves makes up 18 and 72 per cent respectively. Gazprom accounts for 14 and 74 per cent of the global and Russian gas output accordingly. At present, the Company actively implements large-scale projects aimed at exploiting gas resources of the Yamal Peninsula, Arctic Shelf, Eastern Siberia and the Far East, as well as hydrocarbons exploration and production projects abroad.

Gazprom is a reliable supplier of gas to Russian and foreign consumers. The Company owns the world’s largest gas transmission network – the Unified Gas Supply System of Russia with the total length of over 168 thousand kilometers. Gazprom sells more than half of overall produced gas to Russian consumers and exports gas to more than 30 countries within and beyond the former Soviet Union.

About DEPA

DEPA is the company that introduced natural gas to Greece implementing a big energy investment.
DEPA with its long presence in the Greek market is a modern and competitive group of companies with a dynamic presence in the energy sector and substantial contribution to the development of the Greek economy, the protection of the environment and the improvement of the quality of life of the local communities.

With the continuous expansions of the natural gas pipelines and the establishment of new Natural Gas Supply Companies (EPAs), DEPA Group is bringing natural gas to more and more regions of the country.

Having entered into long-term natural gas supply contracts, it supports the supply sufficiency and security of the country and at the same time it develops significant initiatives so that Greece can play an essential role as a hub of natural gas transit to Europe from countries with rich natural gas deposits.