I GI Poseidon Dim itrios E. Manolis EASTMED Project Developm ent - - PowerPoint PPT Presentation

I GI Poseidon

EASTMED Project Developm ent

Sofia, 1 5 October 2 0 1 5 Dim itrios E. Manolis Deputy Developm ent Director

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POSEIDON POSEIDON EASTMED EASTMED IGB IGB

• IGI Poseidon S.A. is a Greek company equally owned by DEPA S.A. and Edison International Holding (100% Edison

S.p.A.).

• The company is involved in the development of 3 major gas pipeline projects in the framework of the Southern Gas

Corridor system: the Poseidon pipeline, the Eastern Mediterranean pipeline and the Interconnector Greece- Bulgaria.

• Thanks to the contribution to energy security enhancing by diversifying the routes and the source of natural gas

supply, the IGI Poseidon projects are included in the list of Projects of Common Interest at European level.

IGI Poseidon S.A.

Projects of Common Interest

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Vasilikos

Eastern Mediterranean Basin Sources and Export Options

• The

Basin resources in the Eastern Mediterranean requires the identification of a bulk export option in addition to regional supplies in

• rder

to underpin project realization;

• Several

export

• ptions

are under consideration taking in account economics and geopolitical constrains;

• EastMed Project, one of such options, is

finalizing the detailed analysis and the Pre- FEED studies, in order to be a consolidated, mature and viable option aligned with gas suppliers requirements.

• The new discoveries in the area could

impact the upstream producers in the preference for the export route.

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EastMed Pipeline Overview

• The EastMed project is an offshore/onshore gas

pipeline directly connecting the East Mediterranean gas resources to the European gas system.

• The project for its strategic relevance is included

in the Projects of Common Interest list at European level.

• The project can be designed to transport up to 14

billion cubic meters per year from the recently discoveries in the Levantine Basin to Europe.

• With the support of the Cypriot, Greek and Italian

Governments, the project has been selected by the European Commission to be co-financed through the CEF program with 2 M€ for the performance of the Pre-FEED activities. The project will allow to connect directly the Levantine Basin fields to the European markets via Company’s mature projects: Poseidon pipeline granting the access to Italian market and IGB pipeline to Southern-East European markets.

EEZ Turkey

Cyprus Crete

Turkey Greece

Offshore Onshore

Peloponnese EEZ Egypt EEZ Greece EEZ Cyprus

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Main Facts & Challenges

• The Feasibility Study completed by JP Kenny pointed out that, despite the challenges of the project, the length

and the deep water, the pipeline construction is feasible as demonstrated also by other similar projects on which development the promoters of Eastmed are involved.

• On May 2015, following an European tender procedure, the Company awarded the contract for the Pre-FEED

studies to the IntecSea-C&M Engineering Consortium.

• The Pre-FEED activities are expected to enhance the maturity of the project, with detailed and complete technical

and economic assessment, enabling the project promoter to provide reliable data for the selection of the PCI as preferred export route.

730km 420km 570km 170km 2800m 200km

Facts:

Flow rate: 8 to 14 Bcm/year Length: 1900km EastMed 200 km Poseidon Development: EastMed section Pre-FEED ongoing Poseidon section FEED completed

Challenges:

Water depth: c.a 2800 m ( Galsi 2800m) Max Offshore section: 730km (SouthStream 900km) Offshore diameter: 24”-26“ -32’’(SouthStream 32”) Onshore diameter: 42”-46”

• Max. Op. Pressure:

≥ 220 barg (SouthStream 300barg)

POSEIDON EASTMED EASTMEDITERRANEAN CORRIDOR

Ongoing Pre-FEED studies will provide by 2016 confirmation of optimal configuration and associated competitiveness with respect to other export option from the area.

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EastMed Corridor contribution to EU security of supply

• EastMed Corridor development supports EU energy security:
• via diversification of the sources and the routes of supply;
• ensuring the development of domestic resources;
• realizing an European direct connection with extra EU neighboring resources.

The EastMed Corridor represents the sole available option for exporting Eastern Mediterranean gas directly to the European markets

Levantine Basin Levantine Basin

European Market European Market

EASTMED CORRIDOR EASTMED CORRIDOR

Cyprus Sources Cyprus Sources Israel Sources Israel Sources

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Conclusions

IGI Poseidon acts today as a significant infrastructure development company, promoting a portfolio of three PCI projects, Poseidon, IGB and EastMed, that will contribute in a substantial manner to meet EU supply security

• bjectives in fully compliance with European acquis.

The development activities of the EastMed pipeline target to assess, by 2016, the project competitiveness and economic viability of such export option, in order to:

• promote the development of the East Mediterranean reserves and relevant upstream facilities, providing access

to a reliable and significant export market;

• contribute to European energy security and diversification, assuring a direct access route to emerging Eastern

Mediterranean resources.