ECONOMY

Gas deal moves ahead

Greece and Italy will sign an agreement on November 4 in Rome for the construction of an underwater natural gas pipeline between the two countries, the Development Ministry announced yesterday. The underwater pipeline will be built by Public Gas Corporation (DEPA), Greece’s natural gas supplier, and Italy’s Edison SpA. On June 24, Development Minister Dimitris Sioufas and his Italian counterpart, Claudio Scagiola, signed a memorandum of understanding to connect their respective countries’ natural gas networks. The pipeline will eventually be linked via another pipeline across northern Greece to a third that is being built between Greece and Turkey. Together, the three pipelines will enable Caspian and Central Asian natural gas to be transported to Europe. All three pipelines are part of the Southern Europe Gas Ring Project. (AP)