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Greece-Turkey agree over IGB

Greece-Turkey agree over IGB
Bulgarian energy company BEH and IGI Poseidon, a subsidiary of Edison and the Greek gas company Depa, have finalised an agreement to create the company which will construct the new IGB gas pipeline between Greece and Turkey.

GREECE-TURKEY, ACCORD OVER IGB GAS PIPELINE.

Bulgarian energy company BEH and IGI Poseidon, a subsidiary of Edison and the Greek gas company Depa, have finalised an agreement to create the company which will construct the new IGB gas pipeline between Greece and Turkey. The overall investment is expected to be 140 million euros, a statement reports. The company which will be set up for the IGB gas pipeline between Greece and Bulgaria (Interconnector Greece-Bulgaria) will be 50% owned by Bulgarian Energy Holding (BEH) and 50% by IGI Poseidon. The IGB will transport new gas from the Southern Corridor to Bulgaria and the Balkan countries. The Southern Corridor includes the connection between Turkey, Greece and Italy, which will allow Europe to import around 10 billion cubic metres of natural gas per year from the Caspian Sea and Middle East. The IGB will have a capacity of between 3 and 5 billion cubic metres of gas per year, it will be 160 kilometres long and will connect Komotini (Greece) and Stara Zagora (Bulgaria). It will allow Bulgaria to diversify its supply routes by accessing sources from the areas of the Caspian Sea (for example Azerbaijan) through Greece. It is expected to go into production in 2013.

www.turkishmaritime.com.tr

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