ANKARA (A.A) - Swiss energy company EGL on Monday signed aJoint Initiative Agreement with Turkey's Demiroren Group and a memorandum ofunderstanding with Turkey's Petroleum Pipeline Corporation (BOTAS) in Ankara.

Speaking at the signature ceremony attended by Turkish Minister of Energyand Natural Resources Taner Yildiz and Director of Swiss Federal EnergyDepartment Walter Steinmann, Demiroren Group's Board Member Kivanc Oktay saidthat the partnership established aims to make use of the local and internationalexperiences of the two companies in presenting products and service to therapidly growing energy markets throughout the world.EGL's senior executive Hans Schulz said that they were very pleased to haveestablished partnership with Demiroren.After closely monitoring the Turkish energy market, we have determined thatDemiroren was the most suitable company to do business with in Turkey, Schulzunderlined.BOTAS's Director General Fazil Senel said that they signed an MoU with EGLin order to utilize all possible cooperation agreements.

Turkey happens to be an energy bridge between the east and the west. AsBOTAS, we will do what we have to do to transfer all gas needs of the Balkans andEurope, Senel said.Touching on EGL's MoU with BOTAS, Hans Schulz said that the agreement notonly involves the transfer of natural resources and gas but also cooperation.

The Turkish gas market is crucial for EGL. With the MoU signed today, EGLwill become a stronger actor in the Turkish market, Schulz said.Attending the signature ceremony, Taner Yildiz said that the agreementssigned on Monday will boost relations not only between the companies but alsobetween Turkey and Switzerland.Walter Steinmann, in his part, said that"neither Turkey nor Switzerlandwere EU members. However, the two countries have assumed crucial roles for theenergy supply of Europe".