Iran, Armenia Weigh Plans for Gas-Electricity Barter Deal

Iran, Armenia Weigh Plans for Gas-Electricity Barter Deal

TEHRAN (Tasnim) – Delegations from Iran and Armenia discussed plans for the extension of a natural gas-electricity barter agreement between the two neighbors.

After their meeting in Tehran, the heads of the Iranian and Armenian delegations described the discussions as constructive.

“In their meeting today, the two Iranian and Armenian delegations discussed the expansion of long-term relations in the domain of energy and reached agreement on key issues,” Iran’s Deputy Oil Minister Amir Hossein Zamaninia said on Sunday.

“The two sides decided to put off until a future time discussions on certain technical issues pertaining to the export of gas along with the gas-electricity barter deal,” he added.

“After those issues are finalized, a long-term agreement will be signed in that regard,” the Iranian official said after the meeting.

For his part, head of the Armenian delegation Hakob Vardanyan said his country had been discussing gas exports and the extension of a gas barter deal with Iran for one and a half years, describing his talks with the Iranian delegation as very constructive.

He said the two sides reached agreement on some of the fundamental issues, according to the Iranian government’s official website.

Back in 2004, Tehran and Yerevan signed a natural gas and electricity barter agreement under which Iran’s exported gas would be used as fuel for power stations in Armenia and, in return, Iran would import electricity from Armenia.

Armenia began importing natural gas form Iran in mid-2009.