Armenia and Iran have extended the validity of the gas-for-electricity agreement until 2030, Armenian media report. The document was signed by the Director of Yerevan TPP CJSC Aram Ghazaryan and the head of the National Iranian Gas Company Majid Chegeni. Minister of Territorial Administration and Infrastructure of Armenia Gnel Sanosyan congratulated the parties on the extension of the agreement, stressing that it is “one of the best manifestations of the Armenian-Iranian friendly relations.” “This is a profitable deal for both countries, as it creates an opportunity to increase the volume of gas imports and electricity exports, which, of course, will have a positive impact on the development of the economy,” the minister said. It should be noted that Armenia and Iran have started mutual supplies of electricity in exchange for gas since 2009. Armenia receives several hundred (usually about 400) mcm of gas from Iran per year, in exchange for this Armenia supplies 3 kW/hour of electricity per 1 cubic meter
Source: Turan News Agency