Iran and Armenia on Tuesday agreed to extend a 20-year gas-for-electricity swap deal by six years to 2030, Iran's official news agency IRNA reported.
Energy officials from both sides signed a memorandum of understanding (MoU) to extend the deal on the sidelines of Armenian Prime Minister Nikol Pashinyan's visit to the Iranian capital Tehran, according to the report.
Under the new agreement, Iran will double the volume of gas export to Armenia, which stands at 1 million cubic meters currently, and Iran's electricity imports from Armenia will be increased, Iran's Deputy Petroleum Minister Majid Chegini was quoted as saying.
In 2004, the two countries signed a gas-for-electricity barter deal, under which Iran would export gas to Armenia for use in its power plants for 20 years. In return, Iran imports electricity from Armenia.
Editor: Leon
