Swiss EGL to supply Azeri gas to Italian power stations
BAKU - European trader EGL intends to up its gas portfolio at the
expense of Azerbaijani gas, Trend reports.
"Natural gas from Azerbaijan is an ideal complement in EGL's procurement portfolio alongside Russian and Iranian natural gas. With the planned additional natural gas from Azerbaijan, the Swiss energy trading company also supports the EU goals to increase supply security and diversification of supply sources," the Swiss company was quoted as saying.
EGL representative office was opened in Baku in May and is headed by Markus Brokhof, chief of the Gas Supply & SEE division and member of Executive Management.
EGL considers Azerbaijan as a sustainable and reliable gas supplier to Europe.
"Hence, the long-term goal is to transport natural gas from the Shah Deniz field in Azerbaijan through the planned Trans Adriatic Pipeline (TAP) to Italy, where it will be used to fuel EGL's gas-powered combined stations," Brokhof said.
However, he added that a number of business decisions are required before Azeri natural gas supplies are launched through the TAP to Italy.
Brokhof said the memorandum of understanding in the gas industry signed in June between Azerbaijan and Turkey opens good opportunities for talks on Azeri gas supplies.
Founded in 1956, EGL is involved in gas and electricity sails. The company is one of the three shareholders of TAP – a pipeline designed to transport natural gas from the Caspian region and the Middle East to European markets. Its share in the project makes up 42.5 percent.
Trans Adriatic Pipeline will run from Greece to the Adriatic coast of Albania, and further to Italy. The 520 kilometer-long pipeline includes a 115-kilometer sub-sea section, stretching from Albania to Italy. Estimated cost of the pipeline will hit $2.2bn. Its initial capacity will make up 10bn cubic meters of gas a year, to reach 20bn a maximum.
EGL gas department chief, Thomas Hesselbarth said that TAP will ensure the interests of both natural gas producers and consumers, as well as will expand the export potential of the "Southern Corridor".
"Natural gas from Azerbaijan is an ideal complement in EGL's procurement portfolio alongside Russian and Iranian natural gas. With the planned additional natural gas from Azerbaijan, the Swiss energy trading company also supports the EU goals to increase supply security and diversification of supply sources," the Swiss company was quoted as saying.
EGL representative office was opened in Baku in May and is headed by Markus Brokhof, chief of the Gas Supply & SEE division and member of Executive Management.
EGL considers Azerbaijan as a sustainable and reliable gas supplier to Europe.
"Hence, the long-term goal is to transport natural gas from the Shah Deniz field in Azerbaijan through the planned Trans Adriatic Pipeline (TAP) to Italy, where it will be used to fuel EGL's gas-powered combined stations," Brokhof said.
However, he added that a number of business decisions are required before Azeri natural gas supplies are launched through the TAP to Italy.
Brokhof said the memorandum of understanding in the gas industry signed in June between Azerbaijan and Turkey opens good opportunities for talks on Azeri gas supplies.
Founded in 1956, EGL is involved in gas and electricity sails. The company is one of the three shareholders of TAP – a pipeline designed to transport natural gas from the Caspian region and the Middle East to European markets. Its share in the project makes up 42.5 percent.
Trans Adriatic Pipeline will run from Greece to the Adriatic coast of Albania, and further to Italy. The 520 kilometer-long pipeline includes a 115-kilometer sub-sea section, stretching from Albania to Italy. Estimated cost of the pipeline will hit $2.2bn. Its initial capacity will make up 10bn cubic meters of gas a year, to reach 20bn a maximum.
EGL gas department chief, Thomas Hesselbarth said that TAP will ensure the interests of both natural gas producers and consumers, as well as will expand the export potential of the "Southern Corridor".
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