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ITGI-Poseidon submits new updated proposal to Shah Deniz consortium

07 June 2012 13:59 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. ITGI â€“ Poseidon consortium has gave updated proposal to Shah Deniz consortium on the route for transportation and Shah Deniz agreed to consider this proposal, said President of ITGI consortium Elio Ruggeri, APA reports.

Remind that, ITGI project about 800-km-long envisages transportation of Caspian gas from Azerbaijan via the Turkey-Greece-Italy route. The pipeline capacity is 8-10 billion cub.m. In addition, ITGI competitors are Nabucco and South-Eastern European Gas Pipeline (SEEP). Recently, Azerbaijani side rejected this route.

Ruggeri said that sanctions on the project are considered to put in 2012-2013 and thereafter there will not be any protocol obstacles for the project. He stressed that the consortium could be considered not only for gas output in Shah Deniz field, but also in the other deposits. To him, gas demand of Europe in 2020 will make 150 bn cbm per annum.