ECONOMY

DEPA, Edison and Botas sign gas agreement

Greece’s DEPA, Italy’s Edison and Turkish state-run Botas signed an agreement to carry Caspian gas to Italy via Turkey and the Adriatic. The memorandum of understanding for the so-called Interconnection Turkey-Greece-Italy project, or ITGI, was signed in Ankara yesterday. ‘The pipeline represents a strategic infrastructure which will significantly increase European energy security as it will be the first link with the Caspian area, where about 20 percent of world’s gas reserves are located,’ Roberto Poti, executive vice president at Edison, said in a joint statement from the three companies. The pipeline will be completed in 2017, Turkish Energy Minister Taner Yildiz said at a news conference in Ankara to mark the signing of the accord.