IGI Poseidon
IGI Poseidon is a 50-50 Greek-Italian joint venture between DEPA International Projects and Edison S.p.A. that develops cross-border natural gas and hydrogen-ready pipeline infrastructure, including the operational IGB Greece-Bulgaria interconnector and the EastMed-Poseidon pipeline connecting Eastern Mediterranean resources to European markets.
- Company typePrivate
- Founded2008
- HeadquartersAthens, Greece
- Headcount11–50
- GTM typeB2B
- OfferingServices
What IGI Poseidon does
IGI Poseidon S.A. is a privately held 50-50 joint venture between DEPA International Projects S.A. (Greece) and Edison S.p.A. (Italy), incorporated under Greek law in 2008 and headquartered in Athens. The company promotes and develops cross-border energy infrastructure intended to diversify European energy sources and strengthen security of supply, with a focus on natural gas and hydrogen-ready pipeline systems spanning the Eastern Mediterranean, Greece, and Italy.
Its core portfolio centers on two flagship assets. The IGB (Interconnector Greece-Bulgaria) is a 182 km bi-directional gas pipeline from Komotini to Stara Zagora with 3-5 Bcm/year capacity, in commercial operation since October 1, 2022, and operated through the jointly-controlled subsidiary ICGB AD. The EastMed-Poseidon Pipeline is a ~2,100 km bi-directional interconnector linking the Levantine Basin (Israel, Cyprus) to Italy via Greece, designed for 12-20 Bcm/year capacity and engineered for full hydrogen compatibility. Adjacent initiatives include the Poseidon Offshore Section (Greece-Italy, hydrogen-ready) and the Levante Hydrogen Interconnection, a ~760 km onshore pipeline for hydrogen transport at up to 20 bcm/year. Technology validation was provided by DNV (technical feasibility, 2022) and Ernst & Young (economic viability, 2022), and hydrogen readiness is being advanced via partnerships with Tenaris and Corinth Pipeworks announced in December 2024.
The business model is built on regulated, asset-heavy infrastructure economics. Revenue is generated through natural gas transmission tariffs and pipeline capacity booking, with a 46% tariff reduction offered on the Vertical Gas Corridor to make new routing products competitive. IGI Poseidon's customers are sovereign and quasi-sovereign counterparties—governments of Greece, Bulgaria, Ukraine, Moldova, and Western Balkan states seeking diversification away from single-supplier routes—as well as downstream gas shippers and transmission system operators (TSOs). The company's principal growth levers are progressing IGB to full capacity utilization, advancing EastMed-Poseidon through FEED and permitting toward a final investment decision, and pivoting pipeline assets to hydrogen transport in alignment with EU energy-transition mandates.
IGI Poseidon firmographics
Firmographics- Name
- IGI Poseidon
- Legal name
- IGI Poseidon S.A.
- Website
- https://igi-poseidon.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- IGI Poseidon is a 50-50 Greek-Italian joint venture between DEPA International Projects and Edison S.p.A. that develops cross-border natural gas and hydrogen-ready pipeline infrastructure, including the operational IGB Greece-Bulgaria interconnector and the EastMed-Poseidon pipeline connecting Eastern Mediterranean resources to European markets.
- Ownership category
- akta.pro rank
IGI Poseidon industry classification
Industry- Product category
- Energy Infrastructure / Gas Pipeline Transmission
- NAICS
- Pipeline Transportation of Natural Gas (48621)
- SIC
- Natural Gas Transmisison & Distribution (4923)
- akta.pro primary industry
- Interstate & Intrastate Natural Gas Transmission Pipelines (EUAAACAB)
- akta.pro secondary industry
- Hydrogen Pipeline Interconnects & Hub Services (Industrial Clusters, Port/Terminal Tie-ins) (TLAGAGAK)
Keywords
Where IGI Poseidon is headquartered
LocationHeadquarters
- HQ city
- Athens
- HQ country
- Greece
- HQ region
- Europe
Offices1 record
Markets served
IGI Poseidon business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Technology or R&D, Personnel, Operations, Marketing or Sales
Revenue model
- Natural Gas Transmission Tariffs: Revenue generated from transmission tariffs for natural gas transportation through pipeline infrastructure, including discounted rates (46% reduction on standard monthly transmission tariffs) for competitive routing
- Pipeline Capacity Booking: Revenue from capacity allocation for gas transportation services connecting Caspian region, LNG terminals, and Southern Gas Corridor to Southeast European markets
Go-to-market motion2 records
Distribution channels2 records
Marketing channels4 records
IGI Poseidon product offering
Product offeringCore offering
IGI Poseidon develops, promotes, and operates large-scale cross-border and offshore gas pipeline interconnectors linking Eastern Mediterranean energy resources to European markets. Its core assets include the EastMed-Poseidon Pipeline and the operational IGB Pipeline, alongside hydrogen-ready pipeline initiatives designed to support Europe's energy transition to renewable hydrogen.
Product overview
IGI Poseidon is a 50-50% joint venture between DEPA International Projects S.A. (Greece) and Edison S.p.A. (Italy), incorporated under Greek law and based in Athens. The company focuses on developing energy infrastructure to enhance European energy diversification and security of supply. Its core products include the EastMed-Poseidon Pipeline (a ~2,100 km bi-directional interconnector from Israel/Cyprus to Italy with 12-20 Bcm/y capacity) and the IGB Pipeline (a ~182 km interconnector between Greece and Bulgaria with 3-5 Bcm/y capacity, operational since October 2022). Additional initiatives include the Poseidon Offshore Section (hydrogen-ready Greece-Italy connection) and the Levante Hydrogen Interconnection (760+ km onshore pipeline for hydrogen transport). All projects are designed to support Europe's energy transition toward cleaner energy sources including hydrogen.
Differentiator
Problem solved
Functional benefit
Products and services
- EastMed-Poseidon Pipeline A bi-directional energy interconnector providing a direct link between Eastern Mediterranean energy resources (Israel, Cyprus) and European markets through Cyprus, Greece, and Italy. Designed to deliver 12 Bcm/year, expandable to 20 Bcm/year, and fully hydrogen-compatible for future renewable hydrogen transportation. Total length approximately 2,100 km.
- IGB Pipeline (Interconnector Greece-Bulgaria) A bi-directional gas pipeline connecting the transmission systems of Greece and Bulgaria, as well as TAP. Spans approximately 182 km from Komotini, Greece to Stara Zagora, Bulgaria, with transport capacity of 3-5 Bcm/year. Operated by ICGB AD subsidiary; commenced commercial operation on October 1, 2022.
- Poseidon Offshore Section (Hydrogen Readiness) The offshore section of the Poseidon Pipeline connecting Greece to Italy, being developed for full hydrogen transport capability to support Europe's energy transition toward renewable hydrogen. Links HI West and HI East Hydrogen Corridors.
- Levante Hydrogen Interconnection An energy interconnector consisting of an onshore pipeline (~760 km from the Thesprotia/Florovouni region to the Greek-Turkish border, plus a second section from Nea Messimvria to Petrich, Bulgaria) designed to transport hydrogen with capacity up to 20 bcm/year. Connects local hydrogen production sources to the European energy system.
Quantifiable outcome
- Up to 20 Bcm/year transport capacity to European markets
- +3 more outcomes
Companies that use IGI Poseidon
Customer profileNamed customers5 records
Segments2 records
Ideal customer profiles2 records
IGI Poseidon technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
IGI Poseidon partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core, major and minor.
- DEPA International Projects S.A.core50-50% joint venture partner and co-founder of IGI Poseidon S.A. DEPA International Projects was established in May 2020 following Law 4643/2019 spin-off from DEPA S.A., focusing on international energy projects to diversify Greece's energy sources and enhance participation in the European Single Energy Market.
- Edison S.p.A.core50-50% joint venture partner and co-founder of IGI Poseidon S.A. Edison SpA is Europe's oldest energy company, operating in 10 countries with over 4,900 staff. The company is committed to developing gas import infrastructures for Italy and Europe and manages regulated activities including gas transport, storage, and distribution.
- Corinth PipeworksmajorPartnership announced December 12, 2024 to advance safe and efficient hydrogen transportation through high-pressure offshore pipelines. Corinth Pipeworks is a global leader in steel pipe manufacturing and pipeline solutions.
- TenarismajorPartnership announced December 10, 2024 to advance offshore hydrogen readiness through ultra-deep offshore pipelines. Tenaris specializes in high-performance steel pipe products and services for the energy industry.
- DNVmajorLeading assurance and risk management firm that confirmed EastMed Pipeline as technically feasible and mature in 2022 based on FEED document assessment.
- Ernst & YoungmajorWorld's leading professional services company that confirmed EastMed Pipeline as economically viable in 2022.
- INGL (Israel Natural Gas Lines)majorMoU signed November 5, 2019 to strengthen cooperation in the EastMed gas pipeline project development.
- TMNG GlobalminorMoU signed December 3, 2019 for cooperation in the EastMed gas pipeline project.
- European Bank for Reconstruction and Development (EBRD)majorIGI Poseidon's ESIA studies comply with EBRD Performance Requirements (PR1-10) for environmental and social impact assessments, aligning with international best practice standards.
- ICGB ADcoreICGB AD is the operating subsidiary of IGI Poseidon managing the IGB Pipeline project. It is part of the MoU for Vertical Gas Corridor implementation, coordinating with gas system operators from Greece, Bulgaria, Romania, Moldova, and Ukraine.
Scale indicators7 records
Recent moves6 records
Expansion highlights7 records
IGI Poseidon competitors and assessment
Company assessmentDirect peers
- Medgaz: Medgaz operates the Algeria-Spain subsea natural gas pipeline with capacity of ~10 Bcm/y, connecting North African gas resources directly to the Iberian market. It is directly comparable to IGI Poseidon's EastMed concept of cross-Mediterranean pipeline infrastructure linking third-country gas resources to European markets.
- Bulgartransgaz EAD: Bulgartransgaz is the Bulgarian national gas TSO and the direct counterpart to IGI Poseidon on the IGB Pipeline, owning the Bulgarian section of the interconnector. It is a direct peer operating cross-border gas infrastructure directly connected to IGI's flagship operational asset.
- DESFA (Hellenic Gas Transmission System Operator): DESFA is the Greek national gas transmission system operator managing the Greek gas grid and connecting to TAP, IGB, and other cross-border pipelines. It is a direct operating peer to IGI Poseidon in Greek gas infrastructure, with comparable role in enabling cross-border gas flows into Southeast Europe.
- Trans Adriatic Pipeline (TAP) AG: TAP operates the Trans Adriatic Pipeline, a ~878 km natural gas pipeline connecting Greece to Italy via Albania and the Adriatic Sea, with capacity of ~10 Bcm/y (expandable to 20 Bcm/y). It directly parallels IGI Poseidon's EastMed-Poseidon route and serves the same customer base of European gas off-takers seeking Southern Corridor supply diversification.
Broad incumbents
- Snam S.p.A. Snam is Italy's leading natural gas infrastructure operator with ~33,000 km of transmission pipelines, LNG terminals, and storage. It is a broad incumbent operating across all segments of the Italian gas value chain, comparable to IGI Poseidon's Italian gas infrastructure ambitions but with a much larger and more diversified portfolio.
- Enagás: Enagás is Spain's national gas TSO with ~12,000 km of pipelines, operating the Spanish gas grid and LNG terminals. It is a broad European incumbent comparable to IGI Poseidon as a regulated gas infrastructure operator in the Mediterranean region with cross-border pipeline interests.
- Fluxys: Fluxys is a Belgian gas infrastructure group operating ~4,000 km of pipelines, storage facilities, and the Zeebrugge LNG terminal across Belgium and broader Europe. It is a broad incumbent comparable to IGI Poseidon as a European gas TSO with cross-border pipeline operations.
- Nord Stream AG: Nord Stream AG operated the offshore Nord Stream pipeline system connecting Russian gas directly to Germany under the Baltic Sea. Although currently suspended due to geopolitical events, it remains a comparable operator of large-scale, cross-border subsea natural gas pipeline infrastructure with similar technical and regulatory complexity to EastMed-Poseidon.
- TANAP (Trans-Anatolian Natural Gas Pipeline): TANAP is the Trans-Anatolian Natural Gas Pipeline transporting Caspian gas from the Turkish-Georgian border through Turkey to connect with TAP at the Greek border, with capacity of up to 31 Bcm/y. It is comparable to IGI Poseidon as part of the Southern Gas Corridor infrastructure linking non-Russian gas sources to European markets.
Others
- Eni S.p.A. Eni S.p.A. is an Italian integrated energy major and the parent company of Edison S.p.A., which holds 50% of IGI Poseidon. While not a direct pipeline peer, Eni is a strategically adjacent company with overlapping Mediterranean gas interests (Levantine basin, Cyprus, Egypt) and represents the parent group behind one of IGI Poseidon's founders.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
IGI Poseidon social profiles
Digital presenceIGI Poseidon financial estimates
Financial estimateRevenue estimate
Valuation estimate
IGI Poseidon leadership team
Management profileNumber of profiles
IGI Poseidon subsidiaries and ownership
Company hierarchySubsidiaries1 record
IGI Poseidon funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
IGI Poseidon M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about IGI Poseidon
What does IGI Poseidon do?
IGI Poseidon develops, promotes, and operates large-scale cross-border and offshore gas pipeline interconnectors linking Eastern Mediterranean energy resources to European markets. Its core assets include the EastMed-Poseidon Pipeline and the operational IGB Pipeline, alongside hydrogen-ready pipeline initiatives designed to support Europe's energy transition to renewable hydrogen.
Is IGI Poseidon a public or private company?
IGI Poseidon is a private company. It is classified as corporate owned and is currently operating.
When was IGI Poseidon founded?
IGI Poseidon was founded in 2008. It employs 11 to 50 people.
Where is IGI Poseidon based?
IGI Poseidon is headquartered in Athens, Greece, in the Europe region.
How does IGI Poseidon make money?
Two revenue lines are on record. Natural Gas Transmission Tariffs are the primary driver. The others are pipeline Capacity Booking.
Who are IGI Poseidon's main competitors?
Direct peers on record are Medgaz, Bulgartransgaz EAD, DESFA (Hellenic Gas Transmission System Operator) and Trans Adriatic Pipeline (TAP) AG. Broad incumbents are Snam S.p.A., Enagás, Fluxys, Nord Stream AG and TANAP (Trans-Anatolian Natural Gas Pipeline). Eni S.p.A. is listed as an others.
Does IGI Poseidon have an API?
No public API is recorded for IGI Poseidon.
What industry is IGI Poseidon in?
IGI Poseidon's product category is Energy Infrastructure / Gas Pipeline Transmission. Its primary akta.pro industry code is EUAAACAB, Interstate & Intrastate Natural Gas Transmission Pipelines, with a secondary code of TLAGAGAK, Hydrogen Pipeline Interconnects & Hub Services (Industrial Clusters, Port/Terminal Tie-ins). Its NAICS code is 48621 and its SIC code is 4923.