Swiss Axpo needs no gas from Iran, fully counts on Azerbaijani gas

Swiss holding Axpo, which a few years ago merged the trader EGL into itself, currently does not need any gas from Iran, and fully counts on gas from Azerbaijan, said Tobias Kistner, the media spokesperson at Axpo, in an exclusive interview with Trend Aug. 14.

In 2008, the Swiss trader EGL signed a 25-year contract with Iran’s NIGEC for the purchase of 5.5 billion cubic meters of gas annually. Deliveries didn’t begin due to the imposition of sanctions against Iran. In 2012, Axpo became the owner of 100 percent of EGL’s shares. Subsequently, Axpo got a five percent stake in the Trans Adriatic Pipeline (TAP) project, which is expected to start delivering Azerbaijan’s gas in 2020.

“Axpo has gas contracts with the Shah Deniz Consortium for the whole gas capacities required, that is why we currently do not need any gas from Iran,” Kistner said.

He added that in the context of the TAP project, Axpo fully counts on gas from Azerbaijan.

“For the future, Axpo keeps all options open,” Kistner further said.

In July 2015, Iran and P5+1 reached an agreement on Tehran’s nuclear program. On August 13, Switzerland lifted sanctions on Tehran, which in particular, creates opportunities for Swiss companies to purchase Iranian oil and gas

The Southern Gas Corridor is a priority project for the EU. The project provides for the transportation of gas from the Caspian region via Georgia and Turkey to Europe.

At the initial stage, the gas to be produced during the second phase of development of Azerbaijani Shah Deniz gas and condensate field, is considered as the main source for the corridor.

/By Trend/