Edison, Depa Set Up Company for Italy-Greece Gas Pipeline
by AFX News Limited
June 11, 2008
Edison SpA. said that IGI Poseidon SA., the
company that will build the natural gas pipeline between Greece and Italy, was
officially founded Wednesday.
IGI Poseidon is a 50-50 joint venture between Edison International Holding
and Greece's state-owned Depa.
The pipeline, which is already in an advanced authorization phase both in
Greece and Italy, will import 8 billion cubic meters of natural gas per year
from the Caspian Sea.
Edison said construction of the pipeline will begin in 2009 and it will
start operating in 2012.
Edison and Depa will invest about 500 million euros in the project.
Edison said it has started talks with upstream gas operators in Azerbaijan
to secure gas supplies.
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