Penspen Lands FEED for Greece-Italy Natural Gas Interconnector

Monday, February 14, 2011

Hellenic Gas Transmission System Operator (DESFA SA) has awarded to Penspen Limited and its local partner, C&M Engineering S.A., the Basic Engineering Design (FEED) for the Onshore Part of the Greece - Italy Natural Gas Interconnector (IGI).

This 580 km and 42' diameter high pressure natural gas pipeline, complete with compressor stations, metering/regulating stations and an operations and maintenance centre, will cross Greece from the Komotini area in the East of Greece to the Thesprotia coast in the West of Greece where it will be connected with the Offshore Part of Greece-Italy Interconnector.

This prestigious project is the first of the planned 'Southern Corridor' routes and is designed to increase significantly the European gas security of supply. It will take gas from the Turkish pipeline system and transport to the Italian pipeline system in order to provide a route for the export of natural gas from the Caspian region to the European markets.

Mike Dobson, Penspen's Director of Onshore Studies and FEEDs, said:
'The development of the Southern Corridor is crucial to ensuring the future stability of Europe's gas supply and Penspen is delighted to be involved with this strategic project through its work on the IGI'.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

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