Monday, March 17, 2008

Gas: Switzerland set to sign Europe's second largest gas deal with Iran

The Jerusalem Post reports the Swiss energy giant EGL is about to sign a 25-year deal in Teheran to buy 5.5 billion cubic meters of Iranian natural gas per year, starting in 2011, for a reported €18 billion.

The contract will be the second largest European gas deal, although EGL spokesman Bogdan Preda told The Jerusalem Post, "We are not releasing the value of the deal."

In April, the Austrian energy company OMV signed letters of intent with Iran valued at €22 billion to supply Europe with gas, but that contract has yet to be finalized. US officials are closely scrutinizing the legality of the OMV deal.

Help save a child at risk: Identifying A Child At Risk