EGL secures Iranian gas for Trans-Adriatic Pipeline

Switzerland's EGL has entered an agreement with Iran to bring Middle Eastern gas to Europe by pipeline for the first time. Under the terms of the 25-year procurement contract with Iranian Gas Export Company (NIGEC), energy trader EGL plans to start taking an unspecified volume of Iranian gas from 2009. Initially, gas will be transported using the existing network, which runs from Turkey through southeast Europe. From 2012, the gas will be exported through the Trans-Adriatic Pipeline (TAP), which is to be constructed by EGL and StatoilHydro (PE 3/08 p30) and should be completed in that year. When capacity in TAP is available, the volume of gas being supplied by Iran should increase to up to 5