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Chairman of Public Gas Corporation of Greece: â€œITGI can bring Azeri gas to Europe with the lowest riskâ€

17 January 2012 14:07 (UTC +04:00)

Commenting upon the joint statement from the Greek Foreign Affairs and Energy Ministries regarding plans for the transporting of natural gas from the Caspian basin to Europe, Harry Sachinis, Chairman of IGI Poseidon and Chairman and CEO of DEPA, the Public Gas Corporation of Greece said:

â€œWe welcome the statement from the Greek Foreign Affairs and Energy Ministries confirming ITGI as the most credible, reliable and ready to go solution which will partner with Shah Deniz II to open the Southern Corridor for European markets. ITGI can bring Azeri gas to Europe with the lowest riskâ€.

â€œFurthermore, ITGIâ€™s timely realisation and commercial success by providing access to gas from the Caspian to a maximum number of European countries with the maximum certainty possible would pave the way to the development of a broader regional set of projects, connecting the additional gas resources which will be made available to the EU,â€ noted Sachinis.

â€œITGI is the most advanced Southern Corridor pipeline project with all authorization and permission clearances given compared to other projects which are in a preliminary phase, allowing ITGI to start construction works as soon as gas from Shah Deniz II field is allocated from the on-going commercial bid,â€ said Elio Ruggeri, CEO of IGI Poseidon and head of international gas infrastructures of Edison, the leading Italian energy company.

Note that, the ITGI pipeline system comprises IGI (Interconnector Greece-Italy); ITG (Interconnector Turkey-Greece); and IGB (Interconnector Greece-Bulgaria).