Economy

Armenia and Iran extend gas-for-electricity deal until 2030

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Armenia and Iran extend gas-for-electricity deal until 2030

YEREVAN, AUGUST 10, ARMENPRESS. Armenia and Iran have extended the Gas for Electrical Energy agreement until 2030.

The extension was signed on August 10 at the Armenian Ministry of Territorial Administration and Infrastructures in Yerevan, between Aram Ghazaryan, the CEO of the Yerevan TPP, and MajidChegeni, the Iranian Deputy Minister of Oil and Director of the National Gas Company, the Ministry of Territorial Administration and Infrastructures said in a press release.

Minister of Territorial Administration and Infrastructures Gnel Sanosyan praised the agreement as one of the best manifestations of the friendly Armenian-Iranian relations.

“The extension of the agreement is a beneficial deal for the two countries. The extension enables to increase the volumes of gas imports and electrical energy exports, which will definitely have a positive impact on the economic development of the two countries,” Sanosyan said.

Chegeni also attached importance to the extension, adding that it will boost the development of Armenian-Iranian ties.

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