Iran Exports 250mcm of Gas to Armenia in 8 Months: Official
- November, 28, 2017 - 14:56
- Economy news
TEHRAN (Tasnim) – The managing director of Iranian Gas Transmission Company said Iran has exported 250 million cubic meters per day (mcm/d) of natural gas to Armenia since the beginning of the current fiscal year on March 21.
Tehran signed a gas deal with Yerevan in 2004 whereby the Islamic Republic agreed to supply gas to Armenia and import electricity in exchange, Saeed Tavakoli said, according to the Financial Tribune.
The 20-year-old contract took effect in mid-2009.
He added that gas is exported to Armenia via a 30-inch pipeline with a capacity of transporting 2.3 billion cubic meters of natural gas per annum.
The official noted that the volume of gas exports in the previous fiscal year totaled 365 million cubic meters, reaching 250 mcm/d in eight months.
According to the agreement, Iran's natural gas is used by Armenian power plants to generate electricity, which in return is exported to Iran. Tehran receives 3.2 kilowatt-hours of electricity from Yerevan in exchange for 1 cubic meter of natural gas.
Iran and Armenia's power grids are linked by two electricity lines and a third is under construction.