Energean Oil & Gas and Edison International Holding BV signed an agreement regarding the project in Prinos.
Energean owns the licensing of the gas deposit in southern Kavala, while Italian Edison is a shareholder of two major gas transit projects in the Turkish-Greek-Italian pipeline ITGI and the Greek-Bulgarian IGB.
According to the planning, there will be a series of research over a period of 8 months, which will determine the commercial viability of the project.
Energean executives note that the investment is estimated at EUR 400mn, and is welcomed by the local community, while the Environment and Energy Ministry is already informed.
The project includes the usage of a natural gas storage in southern Kavala, which will provide Greece adequacy in times of need.
Additionally, the project could supply Greek gas network with 4 million cubic meters per day or the 40% of the country’s demand in gas for a period of 90 days.
Energean owns the licensing of the gas deposit in southern Kavala, while Italian Edison is a shareholder of two major gas transit projects in the Turkish-Greek-Italian pipeline ITGI and the Greek-Bulgarian IGB.
According to the planning, there will be a series of research over a period of 8 months, which will determine the commercial viability of the project.
Energean executives note that the investment is estimated at EUR 400mn, and is welcomed by the local community, while the Environment and Energy Ministry is already informed.
The project includes the usage of a natural gas storage in southern Kavala, which will provide Greece adequacy in times of need.
Additionally, the project could supply Greek gas network with 4 million cubic meters per day or the 40% of the country’s demand in gas for a period of 90 days.
