ENTSOG GRIP SC 2017-2026 / Annex B - Project Information

Current TYNDP : TYNDP 2017 - Annex A

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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.

Specific Criteria Fulfilled Comments

Time Schedule

Grant Obtention Date Delay Since Last TYNDP Delay Explanation

28/07/2010

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

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. 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.

Main Driver Explanation

Benefit Description

Barriers

Barrier Type

Description

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.

Permit Granting

Political

Poseidon Pipeline has been consistently supported by the Greek and Italian Governments.

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Southern Corridor GRIP 2017–2026 Annex B |

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