Aimed to connect Greece and Italy via the Ionian Sea, development of an onshore section, across northern Greece, of its Poseidon gas pipeline, is still considered by IGI Poseidon, in which Greek Public Gas Corporation (DEPA) and Italian Edison hold equal stakes.
DEPA and Edison have submitted an application to the European Commission for PCI status concerning the overland section of Poseidon, thus enabling EU funding support. The pipeline’s onshore segment, planned to stretch 760 km across northern Greece, before crossing the Ionian Sea to Italy, is considered an extension of the EastMed gas pipeline plan to link Greece, Cyprus and Israel.
Poseidon’s onshore segment could also be used to transport natural gas from east Mediterranean to Balkan markets. It can also be expected to be linked to the Greek-Bulgarian IGB gas pipeline, another project involving IGI Poseidon.
The Greek-Italian Poseidon pipeline has been incorporated into a trilateral agreement signed by Greece, Cyprus and Israel for the EastMed pipeline. The three countries recognize the overland section of the Poseidon pipeline as a project of national significance.
Capacity of the Poseidon pipeline has been increased to 15 billion cubic meters from an original capacity of 8 billion, while a further capacity boost to 20 billion cubic meters of gas is planned.
