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Expected Gas Sourcing
Caspian Region, Levantine Basin (Cyprus and Israel), offshore Crete and any other gas volumes that could be available at the GR/TU boarders
Comments about the Third-Party Access Regime
The exempted capacity is only relative to the forward flow capacity from Greece to Italy.
Benefits
Main Driver
Market Demand
Main Driver Explanation
The Poseidon pipeline will provide valuable amounts of diversified sources of gas, leading to greater liquidity of the impacted markets, enhancing the
competitiveness of prices. Other than Italy (as well as Greece through reverse flow) Poseidon, functioning in complementarity with the SNAM RETE GAS,
Adriatica line will enable the delivery of gas to markets in North East Europe where its benefits will also be felt. While market demand is a key driver, the
Poseidon pipeline, by allowing gas from the Southern Corridor to European markets, contributes fundamentally to security of supply.
Benefit Description
Through the promotion of diversification of sources, routes and counterparts, Poseidon serves to enhance energy security. In conjunction with the
EastMed pipeline, it will enable the delivery of a completely new source, via a new route to reach markets, in Italy and beyond. Moreover, due to the
reverse flow function, Poseidon will supply gas from Italy to the Greek system and thereby contribute decisively during disruption periods. As regards Italy,
Poseidon creates a new entry point with firm capacity, enhancing the effectiveness of the N-I indicator. The new gas will also lead to greater market
liquidity creating conditions for healthy gas trading. Via synergies with the Transitgas pipeline, these benefits and excess gas created can contribute to SoS
in regions bordering NE and NW of Italy while SE European market conditions will also be positively influenced through the connection, via Greece, with
these more developed, hub-based markets.
Time Schedule
Grant Obtention Date
28/07/2010
Delay Since Last TYNDP
Delay Explanation
Specific Criteria Fulfilled Comments
The project creates the connection between the markets of Greece and Italy, enhancing connectivity and market integration, while promoting
price convergence. Poseidon strengthens security of supply by promoting diversified sources of gas, potentially from the East Mediterranean,
broadens the Southern Gas Corridor and provides reverse flow. Furthermore, by creating more liquidity the project will boost competition
leading to more competitive and affordable prices in the markets concerned. The Poseidon pipeline furthers the EU·s goal regarding the
transition towards a low carbon economy by promoting the use of natural gas and contributing to the displacement of coal while constituting
a valuable back up for renewables.
Barriers
Barrier Type
Description
Permit Granting
The major permits for Poseidon Pipeline have been obtained including the EIA in both Italy and Greece and no significant barriers are foreseen for the
remaining permits.
Political
Poseidon Pipeline has been consistently supported by the Greek and Italian Governments.
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Current TYNDP : TYNDP 2017 - Annex A