Iran’s gas export to Armenia will increase in the current year, Chief Executive of the National Iranian Gas Company (NIGC) Hamid-Reza Araghi said, Mehr News Agency reports.
Iran and Armenia inked a barter gas and electricity contract in 2004, he said, adding, “under the deal, it was stipulated that one million cubic meters of gas will be exported to Armenia daily.”
Turning to the increase of Iran’s gas exports volume to Armenia, he said, “earlier, a contract for exporting Iran’s gas to Armenia was signed with the aim of bartering gas and electricity, based on which, Armenia pledged to deliver three KW/hour electricity to Iran in exchange for each cubic meter delivery of gas from Iran.”
Under the deal, it was agreed that Iran’s gas export volume to Armenia and also dispatch of electricity from Armenia to Iran should be increased as of 2018, he maintained.
Given the above said, gas exports from Iran to Armenia will increase from one million cubic meter to 1.6 million cubic meter daily.