Azernews.Az

Swiss holding Axpo, which a few years ago merged with the trader EGL, currently doesn’t need any gas from Iran, and fully counts on gas from Azerbaijan, said Tobias Kistner, the Axpo media spokesperson, in an exclusive interview with Trend August 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 sanctions on Iran. 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.

“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. “In the context of the Trans Adriatic Pipeline (TAP) project, Axpo fully counts on gas from Azerbaijan.”

He added that for the future, Axpo keeps all options open.

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

The Southern Gas Corridor is one of the priority energy projects for the EU. It envisages the transportation of gas from the Caspian Sea region to the European countries through Georgia and Turkey.

At the initial stage, the gas to be produced as part of the Stage 2 of development of Azerbaijan’s Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. Other sources can also connect to this project at a later stage.

As part of the Stage 2 of the Shah Deniz development, gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans-Anatolian Natural Gas Pipeline and Trans-Adriatic Pipeline.

---

Follow us on Twitter @AzerNewsAz