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Iran, Switzerland likely to sign huge gas deal

Tehran, March 17, IRNA - Iran and Switzerland are likely to ink a big gas deal worth 40 billion dollars despite the adoption of third sanction resolution by the UN Security Council.

Swiss Foreign Minister Micheline Calmy-Rey who is in Trhran will probably sign the gas deal with Iran with an aim of reducing Europe's dependence on Russian gas.

According to the initial agreement, the deal with be valid and followed by both sides for 25 years.

Calmy-Rey said that the deal would not violate the sanctions against Iran imposed by the US and European Union.

Mostafa Sharif al-Nabi who is an energy expert told IRNA that such a gas deal with a reputable Swiss company is positive.

He added that Swiss EGL company will only buy gas from Iran as other buyers do and this would not violate the sanctions regime.

Europeans severely need Iran's gas to reduce their dependence on Russia which is now the only gas exporter to Europe, Sharif al-Nabi said.

Swiss EGL company will receive Iran's gas in Bazargan boarder point and ship it to Albania via Adriatic Sea and then to Italy.

... Payvand News - 03/17/08 ... --

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