Iran Gas Supply to Armenia to Double
- November, 02, 2022 - 10:47
- Economy news
TEHRAN (Tasnim) – Iran will double its natural gas supply to Armenia under an extended gas-for-electricity swap deal that will run until early 2031.
Iran’s Oil Ministry said in a report that Iran and Armenia have renewed a contract for swap of Iranian gas for Armenian electricity as Armenian Prime Minister Nikol Pashinyan was in Tehran for an official visit on Tuesday, Press TV reported.
Deputy Oil Minister Majid Chegeni, who signed off on the extension of the contract, said that Iran’s supply of gas to Armenia will double to 2 million cubic meters (mcm) per day under the new arrangement.
“Based on this, electricity swap figures will be modified in line with the increase in the size of gas exports,” Chegeni said.
Under the renewed deal, Iran and Armenia will commit to swapping gas for electricity until the end of the Iranian calendar year 1409 (March 2023).
Iran’s gas supplies to Armenia are small compared to the volumes exported to Iraq and Turkey which amount to 70 mcm per day during peak days.