Athens-based Poseidon SA, a 50-50 joint venture involving DEPA, the Public Gas Corporation, and Edison, has signed an agreement with Noble Energy International Ltd to finalize preliminary procedures for the East Med pipeline ahead of the project’s Front End Engineering Design (FEED) stage. As part of the agreement, Noble will also conduct a sustainability study for the prospective pipleline, to carry natural gas exports from major deposits discovered in the East Mediterranean region.
The East Med pipeline has been designated as a Project of Common Interest (PCI) and is supported by the EU through the Connecting Europe Facility (CEF), a co-funding program.
The East Med project received two million euros in 2015 through the CEF program to fund activies preceding the FEED stage.
Poseidon is involved in the development of three major natural gas pipeline projects, the Poseidon pipeline, a submarine passage linking northwestern Greece with Italy’s south, the IGB, to interconnect northeastern Greece with southern Bulgaria, and the East Med, planned to run from Cyprus to Greece’s northwest via Crete.
The East Med project, including submarine and overland segments, will cover a distance of roughly 1,900 kilometers. It is being planned to carry as many as 16 billion cubic meters of natural gas per yer (bcm/y) from major Levantine Sea deposits located in Cypriot and Israeli territorial waters. The East Med pipeline may also carry possible natural gas deposits in Greek territory.
East Med, combined with the Poseidon and IGB projects, will be able to supply natural gas to Italy and other countries in Europe’s southeast.