January 25, 2008 / 3:09 PM / 11 years ago

Edison, DEPA set up JV for ITGI pipeline

MILAN, Jan 25 (Reuters) - Italian energy group Edison EDN.MI and Greek natural gas firm DEPA would set up a joint venture to develop a new pipeline to bring 8 billion cubic metres of gas from Azerbaijan to Italy, Edison said on Friday.

The new company, to be set up by March, would develop an infrastructure project for a 206 km undersea link to connect Italy and Greece, part of a major plan to bring Azeri gas via Turkey to Greece and Italy known as ITGI project.

Edison and DEPA, which under the project have exclusive rights for gas transport for 25 year, plan to boost the pipeline capacity and eventually open it up for third parties, Edison said in a statement. (Reporting by Svetlana Kovalyova)

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