Dusseldorf, January 15:

German energy giant E.on is considering investing in natural gas projects in Iran, a company spokesman said. The company also does not rule out a role in a gas pipeline currently under negotiation to supply Iranian gas to Europe.

The comments came after the newspaper Handelsblatt released an interview to appear on Monday with the chief executive of the company, Wulf Bernotat.

“It is not to be denied that the world’s second largest gas reserves are in Iran,” Bernotat told the newspaper. He said many countries had fewer political reservations than the Europeans or Americans about doing business there.

It was not yet certain if projects in Iran were feasible, but it was right to explore the commercial opportunities. Parties are still discussing terms to build the line, which is expected to cross Turkey to Europe and carry Iranian gas.

Bernotat said the dispute between Ukraine and Russia over gas had made clear to consumers how important it was to keep access to a resource that was getting scarce. The row had thus been beneficial as a ‘wake-up call’.