Greece’s Energy Deal with Gaz de France

(GREEK NEWS AGENDA)   A memorandum of understanding between France’s Gaz de France-Suez and the Greek Public Gas Corporation (DEPA) was signed on Friday in Paris. The deal will insure Greece’s procurement with liquid natural gas (LNG). Greece’s main supplier in liquid natural gas is Algeria, however, in view of the drastic surge in domestic natural gas demand estimated for the next three years rising to 1 billion cubic meters per year, DEPA seeks to establish diversified partnerships. The contract with the Algerian Sonatrach provides for a total supply from 0.51 to 0.68 billion cubic meters annually. Algerian LNG began flowing in Greece in February 2000. The synergy with Gaz de France will provide business opportunities for both corporations in the markets of Southeast Europe and East Mediterranean, as well as in the sector of natural gas deposits’ exploitation. Ministry of Development: Energy & Natural Resources; Ministry of Foreign Affairs: Energy Affairs; European Commission: Energy-Gas

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Greece – Italy: Making Connections

(GREEK NEWS AGENDA)   The public gas corporation DEPA has signed an agreement with Italy’s Edison for the construction of a €500 million underwater pipeline linking the two countries in one of Greece’s largest energy projects. The company that is to design, build and develop the 203 km pipeline will be called IGI Poseidon with equal stakes by the two companies. Setting up IGI Poseidon opens the door to supplying the large Western European markets with natural gas from the Caspian region. Kathimerini daily: Gas pipeline deal signed with Edison; Greek News Agenda: Greece – An Energy Hub; Invest in Greece: Energy Sector Powers Ahead; Secretariat General of Information: About Brand Greece- Energy Policy of Greece