The governments of Italy and Greece have endorsed the project for the construction of a pipeline from the Black Sea to the South of Italy under the name “Poseidon”.
This is what Gazprom CEO Alexei Miller told Russian President Vladimir Putin at a working meeting in Moscow, held on February 29th.
He also reported the signing of the memorandum of assessment of the expediency of a gas pipeline from Russia along the sea floor via third-party countries towards Greece and then to Italy.
In particular, technical and commercial evaluations of the project will be carried out by the end of 2016. At the same time, concession operators will start on the so-called “Poseidon” project, which will supply 12 bln m2 of Azerbaijani gas from Greece via the seabed of the Ionian Sea to Italy’s South.
“Poseidon” is an alternative to the “South Stream” project, the construction of which is being hampered by the EU authorities.