The EU questioned the effectiveness of the new gas pipeline of “Gazprom”

The EU will assess the project of the gas pipeline ITGI Poseidon offered “Gazprom”, if will be developed a common position on its implementation. This was stated by Vice-President of the European Commission for energy Maros sefcovic at a press conference in Baku. “It was just a Declaration. A single final approach and final common position on the draft yet. In any case, we will have to assess its efficiency”, — he said (quoted by “Interfax”).

Sefcovic noted that if the project will require the construction of large infrastructure projects, we should not forget that the available infrastructure is used by only 50%. “Given this factor, the efficiency of the project is in doubt”, he concluded.

Earlier on Monday, the project was presented by the head of “Gazprom” Alexey Miller to the President of Russia Vladimir Putin. Miller, in particular, reported that the Memorandum provides a feasibility assessment of the project before the end of 2016.

“We and our European partners work from the project, which was in his time prepared and developed by the Greek and Italian together with French colleagues — the so-called project “Poseidon”: 12 billion cubic meters of Azerbaijani gas from Greece along the bottom of the Ionian sea to southern Italy,” — said the head of “Gazprom”.

A Memorandum of understanding on natural gas supplies from Russia across the Black sea was signed last week Miller, chief Executive officer of Italian Edison SpA mark Benyunes and CEO of DEPA SA, the Greek Theodoros Ciscocom. The pipeline will pass through third countries in Greece and Italy and will be on the southern route of supplies of Russian natural gas to Europe, said then in a press-release “Gazprom”.