The ITGI pipeline guarantees the differentiation in the energy supply of Europe intended by the European Union. At the same time, it is the most mature project regarding its licensing, funding from European programmes and bank institutes while it offers the maximum added value in the Greek economy and creates most of the jobs.
This is the conclusion of a study of the Institute of Energy for Southeast Europe (IENE in Greek) investigating the benefits arising from the South Corridor pipelines which are planned to pass through Greece, i.e. ITGI, oTAP and South Stream. The study used 15 criteria to compare the said three pipelines with regard to the possibility of their direct implementation and financial viability and the added value for the country
The study estimates that the South Stream project does not guarantee a differentiation in the energy sources but only in the route to Europe and, furthermore, there is only minimum information about the development of the whole project.
The TAP pipeline is supported by big power companies and, therefore, has strong financial resources for its implementation. It provides almost equal results in jobs and investment capitals with ITGI in the construction phase. However, for TAP, as it is designed, Greece is only a transit country, while the ITGI design also foresees the implementation of investments in W. Greece providing significant development advantages during its operation.
More specifically, ITGI seems to be the most desirable perspective at a regional level. For Greece, it means significant investments at a local level and security in energy supply as a part of the natural gas shall be channeled from the Caspian Sea to the Greek market, guaranteeing at the same time the operation of the Gas Supply Company of Epirus and West Macedonia. From a regional point of view, ITGI secures the differentiation of energy supply of the wider area by strengthening regional energy safety and facilitating cooperation and it is the spearhead for the development of the regional natural gas market, securing the continuous flow of natural gas and the supply of adequate volumes. The “key” for this prospect is the IGB (Greek-Bulgarian) pipeline, which is practically part of the ITGI system and is in an advanced development stage.
The advantages also of ITGI include the already secured licensing, the minimization of political and economic risk, its design and the secured funding from the European Commission. A significant part of the onshore infrastructure is in operation and what is left is the construction of the main pipeline to Western Greece and the offshore part to Italy.
Contrary to the other pipelines, ITGI, according to the study of the Institute of Energy for Southeast Europe, has secured the unreserved support and cooperation of the Turkish, Bulgarian, Greek and Italian governments.
Regarding the benefits for the Greek economy, it is estimated that in the construction phase of ITGI 10,563 people shall be employed, compared to 9,054 of the TAP project, with the maximum added value for the country to be estimated at EUR 432,474,750 million vs. EUR 370,692,643 million from the TAP project.
The contribution of ITGI in its foreseen 25-year operation is considered of vital importance for the Greek economy because of investments budgeted to amount at EUR 150 million and the creation of new jobs (approximately 900, including the of Energy for Southeast Europe). On the opposite, the corresponding benefits from the operation of the TAP pipeline are almost zero.
As a conclusion, ITGI is seen as the most mature system of pipelines, ready to transport natural gas from the Caspian Sea to the European markets, maintaining the energy supply at competitive prices with continuous flow and significantly contributing to energy security.
www.iene.gr
Find the study at: http://www.iene.gr/page.asp?pid=1551&lng=1
Marica Labrou is a Senior Business Advisor with over 30 years of experience, 21 of which are in the field of information technology. She holds a Master’s degree in Business Administration (MBA) from the University of La Verne and a Diploma in Chemical Engineering from the Polytechnic School of the University of Patras.
She has successfully dealt with issues of business strategy and operational development in both multinational and Greek business organizations. Ms. Lamprou is recognized for her targeted strategy, effectiveness, dedication to continuous learning, and dynamic approach.
An active member of various professional organizations, a volunteer mentor, speaker, and author on business topics, she authored the book “Success Secrets for Family Businesses in the New Era” – PATAKI publications (2020).
She is the Founder and CEO of the consulting company CEL – Compassionate Entrepreneurial Leadership, providing advisory services to businesses aiming to excel in their strategic targeting and managerial competence.
Currently, she serves as an Independent Non-Executive Member on the Board of Directors of ENTERSOFT (a leading software and services company listed on the Athens Stock Exchange) and is the Chair of the Audit Committee, an Independent Member of the BOD of EYDAP, and a Member of the Risk Management, Remuneration and Nominations Committees, as well as a Member of the BOD of TEKA (Hellenic Auxiliary Pensions Defined Contributions Fund). Until November 2023, she was a member of the Board of Directors of Focus Bari (a leading research company, a partner of YouGov in Greece).
As the Managing Director of KAFKAS, she successfully combined the company’s successful family tradition with modern management practices and digital transformation, achieving high operational efficiency. As the Managing Director of Fegime Hellas & Cyprus, she actively contributed to shaping and locally implementing the company’s strategy.
During her tenure as General Manager at Intersys, she strengthened the company’s position by gaining the number one market share, winning critical new accounts, surpassing the European average in customer dedication, and receiving widely recognized business awards.
As the Managing Director of SingularLogic, she led a top Software and IT Integration company with 700+ employees, hundreds of partners, thousands of clients, and more than ten subsidiaries in four countries, establishing a strong competitive advantage through increased internationalization, activity streamlining, and building a stable internal structure.
As a member of the Executive Committee of SingularLogic Group for 10 years, she significantly contributed to transforming the organization into a strategic partner for customers and organizations in Southeastern Europe.
As the Managing Director of SingularLogic Integrator, she led a leading IT Integrator that successfully undertook large-scale projects in both the private and public sectors in Greece, including the national-scale project for the collection and transmission of election results.
Ms. Lamprou has also worked for Microsoft Hellas, Hewlett Packard Hellas, BSP (Bosch-Siemens-Pitsos), and other major companies, and has contributed as a Coach to the Hellenic Association of Enterprises’ productivity network.
She served as Vice President of EASE (Association of CEOs in Greece) from 2018 to 2021 and was also a member of the Board of Directors of the Hellenic Association of Information Technology and Communications Companies (SEPE) from 2013 to 2014.
She is fluent in Greek (native language), English, and Italian.
Giannis is the Chairman of the Board of Directors of DEPA SA, the largest natural gas company in Greece, since August 2019.
Giannis is a Senior Partner and a member of the founding team of EOS Capital Partners. He has over 20 years of experience in Private Equity – Venture Capital industry in Greece, being involved in more than 20 investments, with successful exits, IPO’s, co investments, and more than € 200MM total investments. Prior to his current role, Giannis was the co-founder and CEO of Attica Ventures, a venture capital investment firm that invested in Greek SMEs. In the context of his more than 20 years presence in the investment market, Giannis has acquired specialized experience in mergers and acquisitions, business development, reorganization, and implementation of large investment projects.
He has also participated in more than 20 Boards of Directors of listed companies of ATHEX, investment companies, and public organizations and has gained significant and many years of experience in the management of large companies by participating in their BoDs (ETEAN 2012-2015, PPC 2009, ETAD 2007-2009, STASI 2004-2007).
In October 2011 he was awarded by the Athens Chamber of Commerce and Industry with the Employment Growth Award for his long-term investment presence and contribution to the creation of new jobs.
He is the Chairman of the Hellenic Association of Venture Capital (HVCA), member of the Advisory Committee of the Hellenic Capital Market Commission and of the Alternative Market Advisory Committee of the Athens Stock Exchange, as well as member of the MBA International Business Council of the Athens University of Economics and Business.
From 2001 to 2013, he was an elected member of the TEE (Technical Chamber of Greece) Board of Directors, responsible for the domains of Industry, Small and Medium Enterprises, and Entrepreneurship.
He holds both a Degree in Mechanical Engineering, with a specialization in Production Engineering and Management, at the National Technical University of Athens, as well as an MBA from Bayes Business School London (ex. Cass Business School).
Born in 1963 in Athens, George Polychroniou graduated from “Lycee Leonin” Franco-Hellenic high school, Nea Smyrni in 1981 and then earned a degree in Chemical Engineering from the National Technical University of Athens (NTUA) in 1986. He completed his studies at the Federal Polytechnic School of Lausanne (EPFL) and obtained his Master’s of Science degree in Energy Systems with a specialisation in Economics in 1994.
After beginning his professional career in the private sector, he joined the then newly established DEPA in the beginning of 1989. After having successfully served in various capacities and roles within the commercial arm of DEPA, he was appointed General Manager of the Commercial Branch in 2004, General Manager of Commercial, Financial and Administration in 2005, Chief Operating Officer in 2007, Head of Strategy and Business Development in 2010 and Executive Director of Strategy, Business Development, Administration & IT in 2016.
Since 2020 he has been Executive Director of Strategy & Business Development, with responsibilities in strategy, corporate development and regulatory affairs.
Since December 2014 he has been Corporate Secretary of DEPA.
Mr. Iordanis Prokopidis is the Vice President of DEPA Commercial.
He is a Certified Mechanical Engineer, and graduated from the National Technical University of Athens.
He has a vast experience in Management, Engineering, Procurement and Construction, while he has demonstrated excellent skills in Management, Communication, Organization, Analysis, Negotiation, Troubleshooting Initiatives and Crisis Management as well as in leadership, guidance and coordination skills in multiple operational services.
At the same time he is familiar with important demanding and complex industrial projects as well as to the general context of the Energy Sector (Production, Transport, Distribution, Energy, Oil and Gas Markets).He belongs to the 4th Class (Supreme) in the Register of Construction Experience of the Ministry of Infrastructure and Transport in the following categories of projects: Energy, industrial, electromechanical and Hydraulic Under Pressure.ENERGY MARKET:Since 2005, as an executive of Hellenic Subsidiary of IBERDROLA RENOVABLES SA (one of the largest renewable energy companies), he has profound knowlegde of the terms, legal framework, and all the parameters and components in general of the Energy Market.
ADMINISTRATIVE EXPERIENCE:From 1991 to 1994 he was the Factory Manager (Metal Constructions and Mechanical Equipment) of MEKASOL SA. in Ptolemaida, while in 1999, he took over the position of General Manager of the company until 2003.That year he became the Project Manager in Greece of the Dutch company DEBOER, responsible for the execution of various specialized Olympic Projects until 2004.From 2005 to June 2008, he was the General Manager of Electromechanical Works of the company H. ROKAS SA, a 100% subsidiary of IBERDROLA SA.
From July 2008 to December 2020 he served as Chairman of the BOD and CEO of ROKAS CONSTRUCTIONS SA, a 100% subsidiary of IBERDROLA SA.
He was a founding member and member of the first BOD of the Greek Association of Electricity Producers (HELAS).
SUMMARY OF PROJECTSSince 1991 he has undertaken and fulfilled a number of projects for PPC, ALSTOM, ANSALDO, EL.PE, METKA, TITAN, IBERDROLA, TECHNOPROMEXPORT, AUSTRIAN ENERGY, ABB, MINISTRY OF ATHLETIC and others.In the course of his duties and under his responsibility, among others, were the preparation of the initial offer, the negotiations of the terms of the relevant Contract, the execution of the Project, the negotiations of any new and / or additional works and the corresponding additional price, the preparation of any Additions to the Contract and the Final Delivery of the Projects. SPECIAL PROJECTS:From 2003 to 2004 as Project Manager in Greece of the Dutch company DEBOER, he was responsible for the execution of various specialized Olympic Projects – training centers & indoor gyms – which were designed, constructed and delivered for operation in the record timeframe of seven (7) months.
EXTRA PROJECTS:
From 2005 to 2013 he was the exclusive representative in Greece of the German company FAM GmbH, which specializes in the Design and Development of open mines as well as in the Design, Construction and Upgrading of Mechanical Equipment for these mines.
He is fluent in English.
Mr. Thomas Amorgianiotis has studied Law at the Aristotle University of Thessaloniki and holds an LLM in International Commercial Law (2004) from the University of Nottingham, UK. He has worked with HOWREY LLP in Brussels (2005-2006) and KYRIAKIDES GEORGOPOULOS & DANIOLOS ISAIAS (KGDI) Law Firm in Athens (2008-2011) specialising in EU and Greek Competition Law and providing day to day legal advice to clients active in various industries and sectors (e.g. Food and Beverages, Energy, Petrol products, Aviation, Telecommunications etc.) in relation to investigations of anti-competitive agreements and concerted practices, mergers and acquisitions, abuse of monopoly/dominant position and state aid issues and respresenting them before the Hellenic Competition Commission as well as participating in proceedings before the European Commission. Since January 2012 he has been working with DEPA as Attorney at Law in the Legal Dept. and since April 2016 he is the Antitrust Compliance Officer of DEPA providing legal support to the commercial operation of the company (supply and sales contracts) in compliance with competition and energy law rules and regulations as well as with specific commitments undertaken towards the Hellenic Competition Commission by the company in the context of further liberalization of the Greek natural gas market. He has also provided legal support in the context of international negotiations with a foreign supplier aiming at the revision of the contractual supply price as well as in the context of international negotiations in relation to the structuring, development and exploitation of international energy and infrastructure projects (e.g. construction of natural gas pipeline).
Mrs Karakitsou holds a 5-yr Diploma (MEng) (1987) and a PhD (1992), both in Chemical Engineering from the University of Patras. She also worked for 2 years (1992-1993) as a Post-Doctoral Research Fellow at the Institute of Chemical Engineering Sciences in Patras. Her research during PhD and Post-PhD mainly concerned hydrogen production, energy, catalysis and materials science related aspects. She was employed for several years (1993-2000) in the private sector as an Automation & Instrumentation Engineer, as a Project Manager and as an Industrial Control Systems’ Sales Manager. Since February 2000 she has been working in DEPA S.A., at several positions of the Commercial Division as Sales Engineer, Marketing Director and Deputy Head of the Commercial Division, responsible for DEPA’s Commercial & Pricing Policy and the Development of new products. Since April 2016, she is the Head of DEPA’s Subsidiaries’ Division, responsible for the supervision of DEPA’s subsidiaries companies. In parallel, since May 2020, she is a Project Manager of Compressed Natural Gas and Small Scale Liquefied Natural Gas (SSLNG & CNG). She was a member of EPA Thessalias’ Board of Directors (May 2016-Dec 2016) and EPA Attikis’ Board of Directors (Jan 2017-Jan 2020) while in May 2020, she has been appointed as a member of DEPA International Projects S.A.’ Board of Directors. She participates in committees (IGU) for the promotion of natural gas and in Greek Scientific H2 committees. She has published papers in international journals and books and she has lectured in international forums and Greek postgraduate university programs.
Konstantinos Karayannakos first joined DEPA in 1995 at the Strategic Planning Department. Immediately after that he served in various governmental positions and was appointed member of the Board of Directors in several financial institutions.
Subsequently in DEPA he served in various positions and roles such as Head of the Subsidiaries Department and Head of Commercial Activities. In 2010 he was appointed Division Head of International Projects and in 2013 he concurrently assumed the duties of Division Head of Gas Supply. In 2016 he was appointed Executive Director of Gas Supply, Commercial and International Activities and since 2020 he is Executive Director of Commercial Activities, included Natural Gas mobility and Portfolio and Gas Supply activities.
In his capacity as Executive Director, Mr. Karayannakos is involved in developing the IGB project from asset company formation to construction and is appointed Executive Director in ICGB AD.
Mr. Karayannakos holds a PhD (Dr.-Ing) from RWTH Aachen University in Germany, where he also obtained his Fuel Engineering diploma (Dipl.-Ing.)
Mrs. Maria Fantridaki is an Economist and holds a University Degree in Business Administration and Accounting (1986) from the Athens University of Economics and Commercial Sciences.
After beginning her professional career in the private sector, she has been a Depa member since its establishment in 1988. She has successfully served various positions within the financial arm of DEPA SA.
Since April 2016 she has been Executive Director of Coordinating Division Financial Activities.
She was appointed as BoD Member of EDA Attiki S.A in 2010. Since 2011 she has been a BoD Member of IGI Poseidon S.A.
Mrs. Fantridaki has finance professional experience in the energy sector, for more than 30 years, in areas such as Financial Planning, Reporting and Analysis, Accounting, Change Management, Operational and Compliance Audits, Finance Transformation, Invoicing, Cash Management and Financial Statements. She has hand on experience in due diligence projects and strategic plan implementation.
Asimakis Fotopoulos was born in 1970 in Athens, he is married and has three children. He completed his high school studies at Lycée Léonin. He studied Political Sciences and Public Administration at Athens University and Université de Bordeaux in France under the Erasmus UE Program, specializing in International and European Studies.
He has been working in the IT sector since 1995. During his 25 year career, he has been chairman and CEO of HelpDesk S.A. (LogicDIS Group) as well as commercial director for Asset S.A.
From 2004 until 2010 he was the Director of Project Maturity at Information Society S.A., a national interest company assigned with the task of upgrading the technological infrastructure in Greece via the utilization of EU funding programs. During this time he was involved in the design, coordination and support of important infrastructure projects for the Greek Public Sector (SYZEFXIS, Ermis etc.) After 2010 he begun his own business activity in the IT sector by creating two Specialized Software Development companies.
Throughout his career he received numerous educational titles with the most important one being the certification of “Project Management Professional”
He is a member of the Evaluators Register for Public Sector Projects for Operation Projects “Information Society” and “Digital Convergence” as well as member of the “Digital Communication Policies” continuous committee for the Ministry of Transport, Communication and Works. He was also president of the “inter-municipal development Company for Attika North Suburbs” and member of the board of directors for “Saltworks S.A. ” and “Olympic Air-Services S.A.” companies
Dimitris Skalaios is a seasoned executive with 25+ years of experience in Greek and international business environment that combines drive for performance, unusual energy and creative – problem solving thinking. He has very strong analytical ability as well as experience in large corporations as well as SMEs and quickly understands issues needing change or special attention.
He has leveraged his extrovert personality and direct approach in developing relationships with Greek and international investors as he is recognized as a disciplined executive delivering value for shareholders and investors.
While at GE Capital, he was a highly visible business manager who won awards for business conduct (6sigma training) and was recognized for his ability to understand, due diligence and enter new markets (CEE).
He is commercially driven while at same time focuses on profit margins and delivering value (maximizing EBITDA and enterprise value).
While at Hellenic Post, as CFO he refocused the old accounting culture to international reporting and monthly cost monitoring. At the same time he quickly stressed product profit margins to regional executives accustomed to “revenue at any cost” culture. As Executive Director, he followed all strategic initiatives and led ELTA Courier’s privatization process in 2008.
Overall, an individual with relentless drive and financial discipline, Dimitris Skalaios leads with his heart and mind. He constantly tries to add value to the business and develops himself by learning and dealing with new challenges. His international M&A expertise shall prove valuable in non-core asset sales and privatization projects.
His breadth of experience (including over 15 years as board member in large corporations), understanding of corporate governance practices and his strong stakeholder management will serve as a great platform for any board position.
As independent, non-executive director in JUMBO, he provided insights and supported the CEO in syndicated loans issues and supervised the internal audit department as member of the board’s Audit Committee focusing and improving governance processes.
He currently holds an independent non-executive director role at VOYATZOGLOU SYSTEMS, where he also acts as member of the Audit Committee supervising and communicating with the auditors and ensuring compliance with Hellenic Capital Markets Authority governance guidelines.
Mr. Samolis is Lawyer at Supreme Court and Economist. He is Head of “Samolis & Associates” Law Office.
He has many years of experience as a specialized lawyer in Commercial, Banking and Stock Exchange Law, International Laws and Contracts with a legal presence in Greece and abroad.
He contribute to the Brokerage Companies Legislation and the conversion of Brokerage Offices to Brokerage Companies. He is Legal Advisor to many brokerage and commercial companies and credit institutions listed on the Athens Stock Exchange.
Mr. Samolis participated in mergers and acquisitions of companies in Greece and abroad, in business reorganizations and international Conventions with extensive experience in Banking and Stock Law.
He has been President (2004-2007) of Piraeus Port Authority SA, a company listed on the Athens Stock Exchange, President of the Hellenic Port Association, Legal Advisor of the Hellenic Aerospace Industry (2001-2002), and Legal Advisor of the Hellenic Defense Systems SA (2012-2014).
Mr. Samolis has a Law Degree from the Kapodistrian University of Athens, a Degree in Economy of Finance and postgraduate studies and work experience in Lyon, Paris. He speaks English and French.
Executive Director Human Resources & Administration
Professional experience
Education background:
Mr. Kamaras is a Civil Engineer, graduate of the Technical University of Napoli (Italy) with extensive experience in construction of gas networks and hydraulic systems. He has held several managing positions, including being a member of the Board of Directors at EPA Attikis (Gas supply Company of Attika region S.A.) CEO and President of the Board of Directors at ATTIKO AERIO S.A. and President of the Board of Directors at ELTA Courier S.A.
Pavlos has also experience with public affairs, having served as Mayor of the Municipality of Pefki for twelve consecutive years, President of the Mayors Association of Attika, and President and Secretary General of the Association for Sustainable Development of Cities (SBAA).
Pavlos has represented Greece at the Committee of Regions in Brussels, and has received several honours and awards for his contribution to the public affairs, among others from the Hellenic Red Cross and the Hellenic Armed Forces.
Mr Panagiotis Dimitropoulos has 30 years of senior management experience in the Greek banking sector.
Member of DEPA BoD since November 2017, appointed as Vice President from June to September 2019. He was also a member of Piraeus Asset Management MFMC BoD (2017-2018).
Treasurer at Pancreta Co-Op Bank since 2018. Member of the Executive Committee and Head of Corporate and Financial Institutions at Royal Bank of Scotland Greece (2010-2015). Treasurer at Millennium Bank (2004-2010) and at Bank of America Nt&SA Greece. He led the Athens unit of Private Banking at Eurobank Ergasias (2001-2004) and his career started in 1986 at Banque Franco Hellenique.
Certified Investment Manager (level III) by BoG and Hellenic Capital Markets Committee.
He holds a BSc in Business Administration and MSc in Applied Economics – Strategy and Market Regulation from AUEB.
Mr. Konstantinos Xifaras is the Chief Executive Officer of DEPA COMMERCIAL S.A.
He is a graduate of the Department of Production Engineering and Management of the Technical University of Crete (TUC) and is specialized in Operational Research.
In September 2019, he was appointed Chief Executive Officer of DEPA at a crucial turning point for the company in view of the privatization process. Under his leadership, both the privatization preparatory stage and the corporate transformation in 3 distinct companies (DEPA Commercial, DEPA International Projects, DEPA Infrastructure) were successfully completed. At the same time, the renegotiation of all supply contracts was implemented, along with the entrance in the RES market through the acquisition of 49% of North Solar’s share capital increasing, thus, the company’s competitiveness. All the aforementioned steps enabled DEPA to upgrade to an integrated energy company with competitive products, and to proceed to the implementation of critical decisions which helped key projects move forward. Today, DEPA Commercial has significant international activity through projects, such as the Eastern Mediterranean Pipeline, the IGB Interconnector, the Poseidon Pipeline Project, as well as the company’s participation in the construction of the new LNG Terminal in Alexandroupolis – all of which have showcased the strategic role of the company in the energy landscape of the wider region of Southeastern Europe and the East Mediterranean.
At the same time, Mr. Xifaras has been leading the effort to expand the company’s activities through the use of state-of-the-art smart technologies (Small Scale LNG, Remote CNG), the spread of the use of CNG as a vehicle fuel through FISIKON refueling stations network, and the promotion of natural gas as a marine fuel with innovative development programs such as Poseidon Med II, BlueHUBS and SUPERGREEN. His vision includes the company’s further penetration in RES and other reliable alternative energy sources markets, such as hydrogen and biomethane.
Today, Mr. Xifaras is the Vice Chairman of the Technical Chamber of Greece, the Secretary of the Greek National Committee in the World Energy Council (WEC), as well as the Greek National Representative in the WEC. He is one of the 18 Co-Chairs of the European Clean Hydrogen Alliance and member of the Governing Board of Eurogas.
Moreover, Mr. Xifaras has extended experience as a researcher and business consultant and has been appointed in leadership positions, in both private and public sector organizations. He has served as Special Advisor to the Leadership of the Ministries of Development (2005-2006) and the Environment, Energy and Climate Change (2013). He has also held the position of Director of the Office of the Deputy Minister of Development, Competitiveness, Infrastructure, Transport and Networks, responsible for the management of the implementation and funds absorption of the NSRF 2007-2013, as well as, the design of the new Programming Period 2014-2020. Later that year, he was appointed CEO of the Hellenic Gas Transmission System Operator, DESFA SA. Under his leadership, DESFA has demonstrated significant achievements in the fields of economic efficiency, while achieving also the implementation of a series of projects for the development and upgrade of the Natural Gas Transmission Network and the LNG facility in Revithoussa.
