Press TV: Switzerland Files Iran Gas Import Plans

Switzerland – that previously sought gas imports from Iran through its energy trading giant EGL – has reportedly changed plans and is now looking at Azerbaijan as a potential supplier of natural gas.

EGL had signed a 25-year deal with Iran for annual purchases of 5.5 billion cubic meters of gas. However, the deal never became effective due to a series of problems that emerged including technical hurdles as well as the US-engineered sanctions that stalled the project.    

In 2012, Axpo became the owner of 100 percent of EGL’s shares. Subsequently, Axpo got a 5 percent stake in the Trans Adriatic Pipeline (TAP) project, which is expected to start delivering Azerbaijan’s gas in 2020. MORE