E.ON aims at stake in Iranian natural gas sector

1st June 2005, Comments 0 comments

1 June 2005, DUSSELDORF - German energy giant E.ON is exploring a possible stake in Iran's natural gas sector in a bid to become less dependent on Russian gas deliveries, the business daily Handelsblatt reported on Wednesday.

1 June 2005

DUSSELDORF - German energy giant E.ON is exploring a possible stake in Iran's natural gas sector in a bid to become less dependent on Russian gas deliveries, the business daily Handelsblatt reported on Wednesday.

The paper cited sources at the company for its report, which said that the first delegations of the gas subsidiary E.ON Ruhrgas have already visited Iran for talks with the Tehran government.

A spokesman for E.ON declined to comment on the report.

The paper said that E.ON considers Iran to be an interesting potential partner as a supplier of both liquefied natural gas (LNG) as well as gas delivered via pipeline.

E.ON Ruhrgas currently gets its natural gas supplies from Russia, from Germany and from North Sea producers.

A deal with Iran would make E.ON the first German energy utility concern to become directly involved in the Iranian gas sector, the report said.

Handelsblatt said Iran is also strongly interested in setting up business with the Germans. Although Iran has the world's second- largest gas reserves after Russia, the country barely exports any of the fuel.

Valerie Marcel, energy industry expert at the Royal Institute for International Affairs in London, commented that "it is one of Iran's most important strategic goals to close this gap".

DPA

Subject: German news

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