DEPA welcomes the signing of the Joint Declaration on Southern Corridor

DEPA appreciates the commitment of Azerbaijan in providing Europe with natural gas quantities, as it is aligned to the goal of energy security and diversification of both gas supply and routing.

The Joint Declaration is an important step towards the foundation of the Southern Corridor, and, thus, of the infrastructure projects under implementation in the region. DEPA is committed in fully developing the ITGI pipeline (Turkey-Greece-Italy Interconnection) and the IGB (Greece-Bulgaria) Interconnector. ITGI is sponsored by Italy’s Edison and Greece’s DEPA, while IGB is sponsored by Edison, DEPA and the Bulgaria’s BEH.

Taken that cross-border interconnection between Turkey and Greece is already in operation since 2007, the signing of the joint agreement adds to the acceleration of the ITGI realization. The operation of IGB pipeline is scheduled in 2013 and its prospects of further development will contribute to the energy integration of the SEE countries. Both interconnectors are characterized by EU as projects of European Interest, and are funded by the European Energy Plan for Recovery Program.

Additional Information on the ITGI (Turkey-Greece-Italy Interconnector) of the Southern Corridor

The onshore pipeline between Greece and Turkey, of 300kms length, was completed and set into operation in 2007, extending from Caracabey (Turkey) to Komotini (Greece). The ITGI project is in good progress and scheduled for completion by 2015.

Currently, the Detailed Marine Survey (DMS) works as well as the FEED have been awarded, while the offshore pipeline tendering is progressing and the environmental permits, TPA exemption approvals, Open Season requirements and all prerequisites are already in place. Negotiations with the Shah Deniz II Consortium are underway in conjunction with transport agreement issues.

The Greece-Bulgaria interconnection is a 170 km high pressure pipeline commencing from Komotini (Greece) to Stara Zagora (Bulgaria) with prospects of expanding to Romania as well. The involved parties and the European Commission have already approved the project, and the Project Development and Shareholders agreements connected to the IGB development have been signed. The asset company of the project (ICGB AD) has been already incorporated.