Iran ready to send gas to Switzerland
Iran ready to send gas to Switzerland
Iran is to export gas to Switzerland in accordance with a gas deal between the two countries, which the financial crisis had delayed.

"We have no problem to export natural gas to Switzerland," Iran's Oil Minister Masoud Mirkazemi told reporters on Saturday in Tehran.

The global financial crisis, coupled with recession fall of gas consumption in European countries, were given as the main reasons behind delays in implementation of the contract.

Earlier in February, a senior Iranian oil official said Iran was ready to provide Switzerland with about one million cubic meters of natural gas per day.

The National Iranian Gas Export Company and Switzerland's Elektrizitaets-Gesellschaft Laufenburg signed a 25-year deal in March 2008 for the delivery of over 5 billion cubic meters of gas per year.

The deal was aimed at reducing Bern's dependency on Russian gas.

According to the contract, in the first phase, Iran will export 1.5 billion cubic meters per year to Switzerland. This would be increased to an annual 4 billion cubic meters by 2012.