Gazprom revives ‘Poseidon’ Adriatic link

Russia's Gazprom signed on 24 February 2016 a Memorandum of Understanding with Italy's Edison and Greece's DEPA public gas supply corporation to develop a gas pipeline project between Greece and Italy, enabling the realisation of a southern route for Russian gas supply to Europe.

It remained unclear how the Russian gas would reach Greece in the first place, with two options apparently on the table ― via Turkey or Bulgaria.

The Poseidon project had been shelved some years before, when it became obvious that TAP, the Trans Adriatic gas pipeline, was to become part of the Southern gas corridor, which aims to bring gas from Azerbaijan to Europe.

It also remained unclear if Poseidon was going to become a direct competitor of TAP for transporting Azeri gas, or if it was intended to be an additional route for Russian gas.

• Primary Source

Gazprom: Press Release, 24.02.26: Gazprom, DEPA and Edison sign Memorandum of Understanding http://www.gazprom.com/press/news/2016/february/article267671/

ESO: Background information: Future uncertain for TAP and DESFA, following European Parliament vote http://www.europeansources.info/record/future-uncertain-for-tap-and-desfa-following-european-parliament-vote/

ESO: Background information: TAP pipeline secures exemption from Third Energy Package http://www.europeansources.info/record/tap-pipeline-secures-exemption-from-third-energy-package/

EurActiv, 18.05.16: Greece freezes Poseidon pipeline talks over Turkey-Russia deadlock http://www.euractiv.com/section/energy/news/greece-freezes-poseidon-pipeline-talks-over-turkey-russia-deadlock/

EurActiv, 01.06.16: Sefcovic doubts that ‘another South Stream’ would be commercially viable http://www.euractiv.com/section/energy/news/sefcovic-doubts-that-another-south-stream-would-be-commercially-viable/

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