Switzerland and Turkey agree on gas transport through Turkey

The Swiss company EGL has signed a memorandum on mutual understanding with the Turkish company Botas. The deal will allow gas to be transported to Europe through Turkey, Trend reports.

The deal defines additional spheres of cooperation between the two companies.

Markus Brokhof, head of the Gas Supply&SEE EGL, member of the EGL Board, said that the memorandum will be the basis for further cooperation.

The companies may talk on transit of gas from the Caspian Sea and the Middle East through Turkey to Europe.
EGL plans to diversify its portfolio using Azerbaijani gas. The company opened an office in Baku in June 2010.

EGL is a shareholder of the Trans-Adriatic Pipeline (TAP), owning 42.5%. The pipeline transports gas from the second stage of the Azerbaijani Shah Deniz field. It starts in Greece, runs through Albania and the Adriatic Sea to Italy. The sea section from Albania to Italy will be 120 km long. The project is due to cost 1.5 billion euros. It will have a capacity of 10 billion cubic meters annually,with a maximum capacity of 20 billion. The pipeline will be 520 km long.

Other shareholders are Statoil (42.5%) and Germany's E.ON Ruhrgas (15%).