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Poseidon gas pipeline route over Black Sea bottom possible — Russian energy minister

The route of the Poseidon natural gas pipeline may pass over the Black Sea bottom, Energy Minister Alexander Novak said on Friday.

"As far as Poseidon pipeline laying is concerned, the memorandum was signed several weeks ago. I think the memorandum makes possible to say such route is feasible. However, companies interested in gas supplies to Southeast Europe should further work out specific terms of supplies," the minister said.

Gazprom, Italia's Edison and Greek DEPA signed a memorandum on gas supplies from Russia over the Black Sea bottom from third countries to Greece and from Greece to Italy on February 24. The parties intend to maximize deliverables of work performed by Edison and DEPA within the ITGI Poseidon project [Turkey-Greece-Italy interconnector pipeline - TASS].

Gazprom, Edison and DEPA will perform a cost efficiency assessment of gas supplies over the Black Sea bottom by 2016 year-end.

[Source: Itar Tass, Moscow, 08Apr16]

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