Edison invests in Turkey
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ISTANBUL - Edison, a leading global energy company, announced its new investment project, called Interconnector Turkey-Greece-Italy, or ITGI, which will transfer Azeri gas to Europe via Turkey and Greece.
Speaking in Istanbul yesterday, Umberto Quadrino, chief executive of Edison, mentioned the importance of ITGI and other projects of the company. "Edison plans to invest 7.2 billion euros for its 2009 and 2014 projects, 3.6 million euros of which is allocated to electricity and 3.6 billion euros to hydrocarbons," he said.
"From this amount, 1 million euros is allocated for Turkey." Qaudrino said they would like to commission the ITGI pipeline project as soon as possible. "Turkey is the most suitable country for the project with its growth in demand. By 2020, Turkey’s estimated demand interval is between 57 and 66 billion cubic meters of gas per year," he said, adding that ongoing privatizations and the overall liberalization process presents opportunities for gas and electricity investments in Turkey. ITGI aims to transfer 10 billion cubic meters of natural gas to Italy and Europe via Turkey and Greece.