Tuesday, May 17 2022 12:38
Naira Badalian

Gnel Sanosyan discusses new agreement on gas-for-electricity program  with Iranian Petroleum Minister 

Gnel Sanosyan discusses new agreement on gas-for-electricity program  with Iranian Petroleum Minister 

ArmInfo.Minister of Territorial Administration and Infrastructures of Armenia (MTAI) Gnel Sanosyan discussed a new agreement on a gas-for-electricity program with  Iranian Petroleum Minister Javad Owji, within the framework of his  working visit to the Islamic Republic of Iran.

According to the press service of MTAI, during the meeting Sanosyan  presented proposals in connection with the renegotiation of the  agreement. The contract will be concluded when the work under the  contract is completed and the Iranian side responds to the submitted  proposals.

Issues related to oil refining, bitumen, bitumen price were  discussed. Minister Sanosyan noted that active road construction work  is underway in Armenia, however, changes related to the bitumen price  have caused certain difficulties.

Earlier, at the end of March this year, Iranian Petroleum Minister  Javad Owji and Adviser to the Prime Minister of Armenia on bilateral  cooperation in the field of energy Artashes Tumanyan discussed  cooperation in the field of energy. According to Mehr, with reference  to the Armenian media, Yerevan and Tehran agreed to increase Iranian  gas exports to Armenia. Now Russia supplies about 80 percent of gas  to Armenia. Back in September 2021, Deputy Prime Minister Mher  Grigoryan stated that Yerevan was considering the possibility of  importing gas from other countries, but this decision should be made  based on infrastructure capabilities. "This approach is being  implemented within the framework of a swap deal (SWAP) with Iran,"  the Depty Premier explained.

In 2004, Tehran and Yerevan signed a 20-year gas-for-electricity  barter agreement under which Iran's exported gas would be consumed by  power plants in Armenia, and in return Iran would import electricity  from Armenia. The Republic of Armenia has been importing gas from  Iran since mid-2009. Armenia is carrying out a barter deal with Iran  "gas in exchange for electricity" at the rate of 1 cubic meter of  blue fuel from Iran in exchange for 3 kWh of electricity from  Armenia. Gas supplies are carried out via the Iran- Armenia gas  pipeline, and electricity from Armenia is sent to Iran via two power  lines.

POST A COMMENT
Input digits     


News
Growth of economic activity in Armenia is due to unstable factors -  Luys Foundation Growth of economic activity in Armenia is due to unstable factors -  Luys Foundation 
New Education Platforms through Cooperation between AraratBank and Aren Mehrabyan FoundationNew Education Platforms through Cooperation between AraratBank and Aren Mehrabyan Foundation
RA CB forecasts GDP growth of 6.3-4.1% in 2026RA CB forecasts GDP growth of 6.3-4.1% in 2026
RA State Revcnue Committee is supporting businesses in properly  organizing their operation - premier RA State Revcnue Committee is supporting businesses in properly  organizing their operation - premier 
Armenian economy minister on country`s export and import plans with  Azerbaijan Armenian economy minister on country`s export and import plans with  Azerbaijan 
2% cashback for all ArCa cardholders not to apply to cashless  purchases from foreign businesses, says Deputy Finance Minister2% cashback for all ArCa cardholders not to apply to cashless  purchases from foreign businesses, says Deputy Finance Minister
Armenia has for many years been importing oil products from Turkiye -  expert Armenia has for many years been importing oil products from Turkiye -  expert 
RA health minister ready for joint programs with EAEU partners RA health minister ready for joint programs with EAEU partners 
Roundtable discussion `Kazakhstan-Armenia: Dialogue in Tourism` held  in Yerevan Roundtable discussion `Kazakhstan-Armenia: Dialogue in Tourism` held  in Yerevan
Armenia hopes for Russia to restore railway connection with  Nakhchivan, Azerbaijan and Turkiye as soon as possibleArmenia hopes for Russia to restore railway connection with  Nakhchivan, Azerbaijan and Turkiye as soon as possible
Government ready to assist business contacts between Armenia,  Azerbaijan - Armenian premierGovernment ready to assist business contacts between Armenia,  Azerbaijan - Armenian premier
Armenian premier on forecast of GDP growth in 2026Armenian premier on forecast of GDP growth in 2026
Index of prices for industrial prices 103.6% in Armenia in Jan-Nov  2025Index of prices for industrial prices 103.6% in Armenia in Jan-Nov  2025
Armenian government approves measures and procedures for cashback on  non-cash transactions using ArCa NPS cardsArmenian government approves measures and procedures for cashback on  non-cash transactions using ArCa NPS cards
AraratBank Receives Visa Trusted Partnership Award 2025AraratBank Receives Visa Trusted Partnership Award 2025
Exponential growth in economic activity in Armenia on New Year eve Exponential growth in economic activity in Armenia on New Year eve 
Armenia to have Kap reservoir and new village - premier Armenia to have Kap reservoir and new village - premier 
RA Ministry of High-Tech Industry to expand cooperation with  Eleveight AI company RA Ministry of High-Tech Industry to expand cooperation with  Eleveight AI company 
Armenian government extends ban on export of some agricultural  products Armenian government extends ban on export of some agricultural  products 
Ban on export of whitefish caviar to be extended for six months Ban on export of whitefish caviar to be extended for six months 
Armenia and Israel discuss prospects for expanding economic  cooperationArmenia and Israel discuss prospects for expanding economic  cooperation
2% cashback to be refunded to ArCa local cards in Armenia from 20262% cashback to be refunded to ArCa local cards in Armenia from 2026
IDBank Employees’ New Year Gifts for “Hayordi” Foundation beneficiary childrenIDBank Employees’ New Year Gifts for “Hayordi” Foundation beneficiary children
Armenian, German taxation systems discussed at RA State Revenue  CommitteeArmenian, German taxation systems discussed at RA State Revenue  Committee
Armenian economy minister comments on Azerbaijani petrol price in  Armenia Armenian economy minister comments on Azerbaijani petrol price in  Armenia 
RA Ministry of Territorial Administration and Infrastructure seeking  candidate for position of acting general director of Construction of  a New Nuclear Power Plant company RA Ministry of Territorial Administration and Infrastructure seeking  candidate for position of acting general director of Construction of  a New Nuclear Power Plant company 
WB approves US $250 million in financing for Housing and Mortgage  Market Improvement Project in ArmeniaWB approves US $250 million in financing for Housing and Mortgage  Market Improvement Project in Armenia
EEC Board approves topic on consumer rights protection in EAEU  countriesEEC Board approves topic on consumer rights protection in EAEU  countries
Russia is considering supplying fertilizer to Armenia via Azerbaijan  - vice-premierRussia is considering supplying fertilizer to Armenia via Azerbaijan  - vice-premier
FLYONE ARMENIA launches Yerevan-Amsterdam-Yerevan flightsFLYONE ARMENIA launches Yerevan-Amsterdam-Yerevan flights
Kaps reservoir construction suspended Kaps reservoir construction suspended 
Yerevan`s 2026 budget estimate ready Yerevan`s 2026 budget estimate ready 
Media: Grain from Volgograd to be delivered to Armenia via AzerbaijanMedia: Grain from Volgograd to be delivered to Armenia via Azerbaijan
MSMEs share in Armenia`s GDP increased from 31% to 34% in one year MSMEs share in Armenia`s GDP increased from 31% to 34% in one year 
WizzAir to launch direct flights between Yerevan and London starting  in summer 2026WizzAir to launch direct flights between Yerevan and London starting  in summer 2026
Scholarship for 100 Artsakh Students as Part of IDBank’s “Side by Side” ProgramScholarship for 100 Artsakh Students as Part of IDBank’s “Side by Side” Program
EAEU leaders agree on approaches to developing trade with their key  partners in medium termEAEU leaders agree on approaches to developing trade with their key  partners in medium term
Kılıç: Turkish Airlines will begin daily flights on the Istanbul-Yerevan-Istanbul route from March 11, 2026.Kılıç: Turkish Airlines will begin daily flights on the Istanbul-Yerevan-Istanbul route from March 11, 2026.
Armenia proposes Egypt to consider opening  TUMO centerArmenia proposes Egypt to consider opening  TUMO center
Mining remains a social pillar of Armenia`s regions - studyMining remains a social pillar of Armenia`s regions - study
Armenia, Egypt discuss prospects for developing cooperation in  agricultureArmenia, Egypt discuss prospects for developing cooperation in  agriculture
The results of the second Junius financial literacy competition have been summarizedThe results of the second Junius financial literacy competition have been summarized
 From idea to implementation: Ameriabank Presents the Programs Implemented under My Ameria, My Armenia CSR Campaign From idea to implementation: Ameriabank Presents the Programs Implemented under My Ameria, My Armenia CSR Campaign
Armenia`s Ambassador to the United States attends USACC roundtable on  TRIPPArmenia`s Ambassador to the United States attends USACC roundtable on  TRIPP
Expert casts doubt on origin of recent Azerbaijani gasoline import to  ArmeniaExpert casts doubt on origin of recent Azerbaijani gasoline import to  Armenia
Pashinyan one again thanked Aliyev at EAEU Supreme Council meetingPashinyan one again thanked Aliyev at EAEU Supreme Council meeting
First robotic surgery performed in ArmeniaFirst robotic surgery performed in Armenia
World Bank remains reliable strategic partner in Armenia`s  infrastructure development, says MinisterWorld Bank remains reliable strategic partner in Armenia`s  infrastructure development, says Minister
In Armenia`s interbank foreign exchange market from December 15 to  19, 2025, there was a decrease in dollar and ruble transactions, with  an increase in euro transactionsIn Armenia`s interbank foreign exchange market from December 15 to  19, 2025, there was a decrease in dollar and ruble transactions, with  an increase in euro transactions
Train loaded with  SOCAR petroleum products arrives in ArmeniaTrain loaded with  SOCAR petroleum products arrives in Armenia
RA Finance Minister, French Ambassador and AFD representative discuss  budget support programs RA Finance Minister, French Ambassador and AFD representative discuss  budget support programs 
RA Economy Minister: 22 railcars of Azerbaijani petroleum crossing  Armenian-Georgian borderRA Economy Minister: 22 railcars of Azerbaijani petroleum crossing  Armenian-Georgian border
Azerbaijani fuel import to Armenia  indicates  lack of economic  policy: David AnanyanAzerbaijani fuel import to Armenia  indicates  lack of economic  policy: David Ananyan
Fly Kish starts operating flights on route Tehran-Yerevan-Tehran Fly Kish starts operating flights on route Tehran-Yerevan-Tehran 
Analyst: EDB sees a possible slowdown in economic growth outside the country as the primary risk for the Armenian economy in 2026-2028Analyst: EDB sees a possible slowdown in economic growth outside the country as the primary risk for the Armenian economy in 2026-2028
Prime Minister: Train carrying petroleum products  heading from  Azerbaijan to ArmeniaPrime Minister: Train carrying petroleum products  heading from  Azerbaijan to Armenia
RA Prime Minister confirms that Hungary has lifted its veto on the  decision to allocate 20 million euros to Armenia within the framework  of  European Peace Facility RA Prime Minister confirms that Hungary has lifted its veto on the  decision to allocate 20 million euros to Armenia within the framework  of  European Peace Facility
Armenia  approached its Russian partners with proposal to discuss   possibility of constructing railway line from Yeraskh to  Nakhichevan  borderArmenia  approached its Russian partners with proposal to discuss   possibility of constructing railway line from Yeraskh to  Nakhichevan  border
RA Prime Minister of Armenia to attend  Supreme Eurasian Economic  Council Meeting  in St. PetersburgRA Prime Minister of Armenia to attend  Supreme Eurasian Economic  Council Meeting  in St. Petersburg
EDB Macroeconomic Outlook: Eurasian economies to grow to 9.3% in 2026 EDB Macroeconomic Outlook: Eurasian economies to grow to 9.3% in 2026
Read more
Exchange rates
26.12.2025
RUB4.900.01
USD381.47-0.04
EUR449.14-0.89
GBP514.56-1.05
CAD278.81-0.23
JPY24.39-0.07
CNY54.44-0.02
CHF483.12-1.71


Experts
Armenia has for many years been importing oil products from Turkiye -  expert Armenia has for many years been importing oil products from Turkiye -  expert 
Mining remains a social pillar of Armenia`s regions - studyMining remains a social pillar of Armenia`s regions - study
Analyst: EDB sees a possible slowdown in economic growth outside the country as the primary risk for the Armenian economy in 2026-2028Analyst: EDB sees a possible slowdown in economic growth outside the country as the primary risk for the Armenian economy in 2026-2028
Read more

Commented
ATI.SU: Demand for international cargo transportation 30% up in  ArmeniaATI.SU: Demand for international cargo transportation 30% up in  Armenia
Civil Contract nominates Armen Ktoyan for  Central Bank Board Member  positionCivil Contract nominates Armen Ktoyan for  Central Bank Board Member  position
Armenia, France considering prospects for expanding technological  cooperation  Armenia, France considering prospects for expanding technological  cooperation  

Company bonds
UCO CJSC "GLOBAL CREDIT"1
UCO CJSC "GLOBAL CREDIT"3
UCO CJSC "GLOBAL CREDIT"4
UCO CJSC "GLOBAL CREDIT"5
UCO CJSC "GLOBAL CREDIT"7
"National Mortgage Company"2A
"National Mortgage Company"2B
UCO CJSC “FINCA” 1
UCO CJSC “FINCA” 2