4/26/2011

Turkish-Swiss energy companies team up to focus on natural gas, power trade

Milliyet – Turkey’s Demiroren Group and Swiss EGL joins forces by forming two joint ventures to enter natural gas and power import/export businesses. Signed with a ceremony also attended by Turkey’s Minister of Energy and Natural Resources, Taner Yildiz, the partnership deal involves the establishment of two equal share companies, Demiroren EGL Enerji and Demiroren EGL Gaz. The partners will be able to take advantage of each other’s existing natural gas and electricity trading licenses.


Swiss EGL also signed a separate memorandum of understanding with Turkey’s Petroleum Pipeline Corporation (BOTAS). The deal forms the framework of a possible larger partnership in transporting Caspian and Middle Eastern natural gas to Europe, about which BOTAS and EGL will engage in direct negotiations later. BOTAS and EGL will also further evaluate cooperation on the Trans Adriatic Pipeline (TAP) project.

Turkey; Switzerland; energy industry; demiroren; egl; botas; tap project; taner Yildiz; energy trade; gas trade

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