Trend: Swiss Axpo Needs No Gas From Iran, Fully Counts on Azerbaijani Gas

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.”

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