Russia may become biggest gas producer in case of oil slump — bank official

MOSCOW, February 24. /TASS/. Gazprom, Italia’s Edison and Greek DEPA signed a memorandum on gas supplies from Russia over the Black Sea bottom from third countries to Greece and from Greece to Italy, the Russian gas holding said on Wednesday. The purpose of the agreement is to organize the southern route of Russian gas supplies to Europe.

The agreement reflects interests of the parties in the route of Russian natural gas deliveries across the Black Sea via third countries to Greece and from Greece to Italy, Gazprom said. The parties intend to maximize deliverables of work performed by Edison and DEPA within the ITGI Poseidon project [Turkey-Greece-Italy interconnector pipeline — TASS].

"Development of intra-European gas transport capacities is an important component of improving reliability of supplies of natural gas, including the Russian one, to consumers all over Europe," Chief Executive Officer of Gazprom Alexei Miller said.

The agreement was signed after the meeting of Miller and Italy’s Economic Development Minister Federica Guidi in Rome on Wednesday.