ArmInfo. Armenia and Iran extended the 'gas-for- electricity' deal until 2030. The corresponding document was signed at the Ministry of Territorial Administration and Infrastructures of Armenia (MTAI) by Majid Chegeni, Iran's deputy minister of oil for gas affairs and director of the National Iranian Gas Company (NIGC), and CEO of Yerevan Thermal Power Plant, Aram Ghazaryan.
According to the press service of the MTAI, head of the department Gnel Sanosyan congratulated the parties on the extension of the agreement, noting that this is one of the best manifestations of the Armenian-Iranian friendly relations.
"The extension of the contract is beneficial for both parties. Opportunities are being created to increase the volume of mutual deliveries, that is, to develop the economies of both countries," Sanosyan said.
Mr. Majid Chegeni, in turn, stressed the importance of extending the contract, stating that it would give a new impetus to the development of Armenian-Iranian relations.
According to the document, the current contract expires in 2026, the gas exported by Iran (currently, Armenia imports about 365 million cubic meters of natural gas from Iran every year, ed. note) is consumed by power plants in Armenia, and in return Iran imports electricity from Armenia (totaling 1-1.2 billion kWh). The Republic of Armenia has been importing gas from Iran since May 15, 2009. The volume of gas imported from Iran is about 15% of the republic's demand. Armenia is carrying out a 'gas for electricity' barter deal with Iran 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 supplied to Iran through two power transmission lines.
