Saturday Feb 24, 2018

PetroEnergy Information Network

News Agency - Detail

Iran Bent on Boosting Gas Trade with Armenia: Official

(Saturday, January 20, 2018) 16:29

TEHRAN, Jan. 20 (Shana) – Tehran is prepared to enhance its gas ties with neighboring Armenia, the managing director of National Iranian Gas Company (NIGC) says.

Hamidreza Araghi said: "Besides a goods-for-gas deal between Iran and Armenia, Tehran is prepared to bolster its gas exports to Yerevan."

He said based on the deal, Iran receives 3 kilowatt hours of electricity from Armenia for every one million cubic meters of natural gas.

"Iran is OK with boosting its gas flow to Armenia and has build enough capacity in its export pipelines, but the Armenian side cannot supply more power in return."

Speaking on talks between the two neighbors on enhancing Iran's gas exports to Armenia, Araghi said Armenian private or state sectors may step forward to receive buy gas from Iran.

"We are ready to supply them with natural gas if they can pay for the item," he added.

In 2004, Iran and Armenia signed a 20-year gas barter deal for feeding the latter's power plants.