ITGI system to bring Azerbaijani gas to Europe in quickest time - DEPA

The ITGI system is good for Azerbaijan as it brings their gas to market in the quickest possible time, Greek Public Natural Gas company's (DEPA) report said. DEPA is one of the shareholders ITGI project.

According to Harry Sachinis, Chairman and CEO of DEPA, ITGI project is also good for Europe as it will accelerate the development of the Southern Gas Corridor, increasing European energy security by providing alternative sources of imported gas, in the shortest timeframe.

"The ITGI system will deliver Azeri gas to Europe in the shortest possible time and at the lowest cost," he said.

ITGI involves gas supplies from the Caspian region and the Middle East to the EU countries. It includes updated Turkish pipeline infrastructure and also ITG projects such as the Turkey-Greece junction pipeline and IGI. Its planned capacity is 11.8 billion cubic meters per year.

Sachinis said that from a commercial standpoint, the project has many prospective buyers lined up to buy capacity rights, providing a ready-made customer base.

According to Sachinis, upstream and downstream transit rights have been secured according to Greek and Italian regulatory regimes and there has been gained Third Party Access exemption for 8 bcma, from the Greek and Italian Authorities as well as the EU.


/Trend/