Iran, Armenia extend gas-electricity swap deal
Iran and Armenia signed an agreement to extend the term of the existing contract under which Tehran exports natural gas to Yerevan in exchange for electricity until 2030.
The two countries have signed a new agreement to export Iranian gas to Armenia. The agreement was signed in a ceremony in the Armenian capital Yerevan with Majid Chegini, Iran’s Deputy Oil Minister, Mehdi Sobhani, Iran’s ambassador to Armenia, and Armenian Minister of Regional Management and Infrastructure Sanusian in attendance, reported Mehr news agency.
The Iranian Embassy in Yerevan said the initial agreement was reached during the visit of Armenian Prime Minister Nikol Pashinyan to Tehran in November 2022, as the final document was signed on Thursday.
Iran’s gas exports to Armenia will be within the framework of an energy swap deal and the talks between the delegations of the two countries focused on the amount of gas exports and the exchange rate of electricity and gas.
Iran’s pipeline to Armenia has the capacity to transfer more than one billion cubic meters of gas to Armenia per annum while only about one-third of the capacity has been used since it was launched.
Armenia exports electricity to Iran in return for importing gas. Following the completion of the third electricity transmission line from Armenia to Iran, the line’s capacity will increase threefold, to hit 1,300 MW.