October 13, 2011

On October 13, the Atlantic Council held an off-the-record discussion with Harry Sachinis, Chairman and CEO of DEPA S.A., Greece’s Public Gas Corporation, on the Southern Corridor being developed to bring Caspian gas to markets in Europe and potentially elsewhere. Senior experts from the energy industry and various governments attended the session. DEPA imports both pipeline gas and LNG, and distributes it to electricity producers, industrial users and, through a set of three subsidiaries, to retail customers.

Mr. Sachinis discussed the many routes suggested to bring Caspian gas to Europe and the relative strengths of the proposed ITGI (Interconnector Turkey – Greece – Italy) pipeline system in bringing gas from Azerbaijan into the European markets. In particular, he highlighted the supply security that ITGI would provide for many countries that currently depend on single sources for a disproportionate share of their energy. Also discussed were the Turkey—Azerbaijan gas negotiations, the potential economic advantages for Turkey if it becomes a gas transit country, and the potential for Greece to emerge as an energy hub connecting Russia, Italy, Africa, the Black and Caspian Sea regions, the Middle East, and the Eastern Mediterranean.