Gazprom, Edison SpA, and DEPA SA have signed a memorandum of understanding in relation to gas supplies from Russia across the Black Sea through third countries to Greece and from Greece to Italy to develop a gas pipeline project between Greece and Italy, enabling the realization of a southern route for Russia’s gas supply to Europe.

The agreement reflects the interest of the parties for a route of gas supply from Russia. To this end, the parties intend to use and exploit, to the maximum extent possible, the project already undertaken by DEPA and Edison within the ITGI Poseidon initiative.

“The development of intra-European gas transmission capacities constitutes an important factor for ensuring reliable gas supplies, including the deliveries of Russian natural gas, to consumers across Europe,” said Alexey Miller, chairman of Gazprom’s management committee.

“The possible development of this new supply corridor, to be carried out in full compliance with the laws and regulations of the E.U., will strengthen Italy’s energy security and its role as a major southern-European gas hub, according to the objectives of the National Energy Strategy,” said Marc Benayoun, the CEO of Edison SpA at the signing of the memorandum of understanding.

“The revival in the ITGI-Poseidon project enhances the energy security of Europe with an additional infeed lane and substantially enhances the role of Greece as a major gateway for gas through diversified sources and routes,” said Theodoros Kitsakos, the CEO of DEPA SA.