In the St. Petersburg International Economic Forum – 2017, Russia’s Gazprom, Italy’s Edison and Greece’s DEPA signed contract on creation of Poseidon gas pipeline.
APA-Economics reports citing to Kommersant newspaper that eth document was signed by Italian Minister of Economic Development Carlo Calenda and Secretary General of Greek Foreign Minister Giorgos Tsipras.
Unlike February memorandum, the contract concretely says the source of the Poseidon pipeline is the second line of the Turkish Stream.
Russian Energy Minister Alexander Novak said in April that the transportation capacity of the pipeline will make up 12-16 bcm.
Kommersant reports that head of Snam Company Marco Alvera offered Gazprom head Alexei Miller to increase the capacity of TAP for transportation of gas via the second line of Turkish Stream. According to him, this version is cheaper than construction of Poseidon. TAP capacity makes up 10 bcm.
Gazprom does not comment on the issue. However, according to Kommersant claims, Gazprom explained Snam that TAP is being considered as an extra version: “Management of Russia’s government of Russia’s state corporate preserves its existing relations with Edison. Partners have offered Poseidon and these is no reason to reject the proposal. Along with this, Italian company assures to complete the construction earlier than previous. Regarding TAP, confrontation with European Commission is inevitable. Every one knows that this project is being considered as an alternative to Russian gas”.