Armenia and Iran signed a document on the extension of the Gas Agreement in exchange for electricity, Russian media reported with reference to the press service of the Ministry of Territorial Administration and Infrastructure of Armenia.
The agreement was signed by the general director of CJSC “Yerevan CHP” Aram Ghazaryan and Deputy Minister of Oil of the Islamic Republic of Iran, Director of the National Gas Company Majid Chegeni.
“Extension of the Agreement is a mutually beneficial transaction. It will create the opportunity to increase the volume of gas and electricity exports, which, of course, will positively affect the economic development of both countries,” said the Minister of Territorial Administration and infrastructures, Gnisyan.
The agreement is extended until 2030.
Armenia and Iran began mutual supplies of electricity in exchange for gas since 2009.