Greece–Italy relations

The EastMed pipeline project will fail to be a feasible plan in terms of its cost and construction process, according to Italy's foreign minister.

The leaders of Greece, Israel and Cyprus were set to meet in Athens Thursday to sign a deal for an undersea pipeline that would carry gas from new offshore deposits in the southeastern Mediterranean to continental Europe.

Greece's gas distribution network DEPA and Greek refiner Energean Oil & Gas signed a letter of intent which envisages the supply of two billion cubic metres of gas a year via the Eastern Mediterranean pipeline, just hours before an intergovernmental agreement for the support of the pipeline is signed by Greece, Cyprus and Israel in Athens.

The natural gas pipelines stretching from the reserves in Azerbaijan and Russia to the European markets have turned Turkey into a major energy corridor from East to West, a senior Turkish official has said, days before the inauguration of the TurkStream project with the attendance of the Turkish and Russian presidents.

The Greek section of the Trans-Adriatic Pipeline (TAP) transporting natural gas from Azerbaijan to Greece, Albania, Italy and points beyond in western Europe is ready and will begin trial operations in early December.

During this so-called commissioning phase, small volumes of natural gas will go through the pipeline to ensure commercial use is safe.

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.

Greece plans to split its natural gas company DEPA into two separate entities, its distribution grid and its commercial operations, the country's deputy energy minister said on Thursday.

The European Investment Bank agreed on Thursday a 110 million euros ($121 million) loan for the construction of a 182-km gas pipeline linking Bulgaria with Greece that will end Sofia's complete dependence on Russian gas and help diversify supplies in southeastern Europe.

Several gas-to-gas agreements between Bulgaria and Greece have been signed in Sofia. The treaties were signed by the line ministers of the two countries - Temenuzhka Petkova, Konstantinos Hatzidakis, shareholders, the European Investment Bank and BEH.

The two ministers also signed an additional tax regime agreement for the pipeline for 25 years.

Greek Energy Minister Kostis Hatzidakis will be in Bulgaria on Thursday to sign an agreement for the Interconnector Greece Bulgaria (IGB) gas pipeline with counterpart Temenuzhka Petkova.

The signing ceremony will be followed by working lunch for the delegations of the two countries.