The Iranian and Armenian energy ministers agreed on the construction of a new power transmission line from Armenia to Iran in line with the two country’s efforts to boost energy ties, Tansim News Agency reports.
In one-hour closed-door meeting in Tehran on Saturday evening, Hamid Chitchian and his Armenian counterpart Yervand Zakharyan held talks on ways to boost electricity for gas trade, based on which Iran supplies gas to Armenia and receives electricity.
Speaking to reporters after the meeting, Chitchian said during the talks it was agreed that the third power transmission line between the two countries and two hydroelectric power plants be constructed in a bid to increase the potential for energy exchange.
He said that over the past two decades, the two countries have had good cooperation in the area of energy and the Saturday meeting was an emphasis on the continued cooperation between Iran and Armenia.
Earlier on Saturday, Iran’s Deputy Energy Minister Houshang Falahatian had said that the two sides have recently held meetings with Armenian officials and, based on agreements, are constructing new power transmission lines (from Armenia to Iran).
In May 2009, Iran and Armenia started trading gas and electricity. According to a contract previously signed between the two countries, Iran was planned to supply gas to Armenia until 2029 with or without exchanging electricity with the country.
Falahatian also said that the amount of gas that has been exported to Armenia and an amount of electricity imported from the country did not match the agreed amount based on the contract between the two sides.
The financial resources for the new transmission line have been supplied by Export Development Bank of Iran, he added.