Swiss defend Iranian gas deal

TEHRAN, Feb. 20 (UPI) -- Switzerland has defended its 25-year gas deal with Iranian companies as a means to diversify its energy sector, Iranian media report.

"We want to open a fourth gas corridor, and this is a strategic interest for Switzerland," Iranian Press TV quotes Swiss Foreign Minister Micheline Calmy-Rey as saying.

Switzerland reached a deal in 2008 to sign gas deals with the National Iranian Gas Export Co. for 194 billion cubic feet of natural gas per year. Iranian President Mahmoud Ahmadinejad touted the deal during a meeting with the new Swiss ambassador to Tehran, Livia Leu Agoati, in early February.

"The gas-shipment deal was a good start and an important step to expand bilateral ties," the Iranian president said.

The deal between NIGEC and the Swiss Elektrizitats-Gesellschaft Laufenburg is valued at about $13.3 billion.