Edison

A project to build a 2,000 km pipeline to bring natural gas from East Mediterranean fields to Europe is still alive, the CEO of Italian energy group Edison said on Friday.

Edison CEO Nicola Monti said that the group, which is one of the promoters of the pipeline, was actively talking with Cyprus and Israel about the project.

Energy group Edison plans to take the final investment decision (FID) on a proposed pipeline to deliver East Mediterranean gas to European markets by the end of this year, the Italian project developer told Reuters.

Greece has received nine non-binding bids for the sale of a 65 percent stake in its dominant gas supplier DEPA Commercial, its privatisation agency said on Monday.

Investors who have expressed an interest in the stake include Shell Gas, Vitol Holding, Power Globe, MET Holding and C.G. Gas Limited of Greece's Copelouzos group, the agency said in a statement.

Israel Natural Gas Lines (INGL) is looking at building a natural gas pipeline to Europe under a memorandum of understanding signed with IGI Poseidon, it said on Tuesday.
The mooted EastMed pipeline could carry about 10 billion cubic meters of gas a year from the Eastern Mediterranean to Cyprus, Greece, Italy and other European markets.

Israel-focused gas driller Energean said on Thursday it will buy Italian energy group Edison's oil and natural gas unit for an initial consideration of $750 million.
The acquisition would significantly expand Energean's operations in the growing eastern Mediterranean gas hub, with a significant presence in Egypt's offshore basin.

European and Israeli governments gave their support on April 3 to moving forward with a Mediterranean pipeline project to carry natural gas from Israel to Europe, setting a target date of 2025 for completion.

Greece's entire electricity market is seeking an alternative plan to avoid a short circuit that would bust it, due to the risks created by the plan of former energy minister Panos Skourletis for the opening up of the market.

Two out of the country's three biggest alternative providers of electricity, Protergia, which belongs to the Mytilineos Group, and Elpedison, jointly controlled by Edison and Hellenic Petroleum, have openly disputed the model for power auctions aimed at reducing Public Power Corporation's market share.

Greece has concluded talks with a consortium led by France's Total for deep sea gas exploration in one block in western Greece, its energy minister, Giorgos Stathakis, said on Wednesday, taking the two sides closer to signing a deal.

Work on the underwater section of the Turkish Stream pipeline will get underway in the second half of next year, Alexei Miller, chief executive of Russian gas giant Gazprom, told journalists on Dec. 6, Reuters reported.