Iran, Swiss sign major gas deal

RARE DEAL: Iran and Switzerland have signed an agreement for the export of Iranian gas to a Swiss company. (Getty Images)

Iran and Switzerland on Monday signed a major gas agreement for the export of Iranian gas to a Swiss company, in a rare energy deal between Tehran and the West amid the continued nuclear crisis.

"Today we witnessed the signing of a gas contract between the two countries," Foreign Minister Manouchehr Mottaki announced at a joint news conference with his Swiss counterpart Micheline Calmy-Rey.

Financial details were not disclosed but the contract between Iran's state gas firm and Switzerland's Elektrizitaets-Gesellschaft Laufenburg reportedly envisages Iran supplying 5.5 billion cubic metres of gas annually from 2011.

Calmy-Rey said that the deal was in full compliance with UN Security Council resolutions imposed against Iran for its failure to suspend uranium enrichment, a potential nuclear weapons makingn process.

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