TEHRAN, Nov. 28 (MNA) – Armenia and Iran seek to increase their cooperation under the gas for electricity program, Armenian Minister of Territorial Administration and Infrastructure Gnel Sanosyan said today.
As part of gas for electricity swap deal Armenia has been receiving natural gas from Iran since 2009, which is converted into electricity here and is shipped back to Iran- 3 kWh of electricity for one cubic meters of natural gas, local Armenian media ARKA news agency reported.
Armenia imports annually 365 million cubic meters of gas from Iran. In 2023 August Armenia and Iran signed a document to extend the Natural Gas for Electricity agreement until 2030.
Under the revised agreement Iran will increase exports of natural gas to Armenia while Armenia will increase exports of electricity to Iran, the Armenia media said.
Sanosyan noted today that the Iran-Armenia natural gas pipeline has the capacity to ship more gas from Iran and there is no need for a new pipeline as the existing one is not used to its full capacity.