Iran, Armenia can triple gas-for-electricity volumes

Armenia and Iran can increase the volumes of the gas-for-electricity project, Iranian Ambassador to Armenia Mehdi Sobhani has said.

“There’s a gas pipeline between the two countries and we extended the gas-for-electricity agreement two months ago", Sobhani told CivilNet in an interview, Mehr News reports.

“That was a big and strategic step in the relations of the two countries. This agreement would allow us to triple and even quadruple the imports of electricity from Armenia in exchange for gas. We have very good projects with Armenia. We have the third power transmission line, which I hope will be completed in the coming months,” he said.

He expressed hope that trade turnover between Armenia and Iran, which stood at 711 million dollars last year, will reach approximately 1 billion dollars this year.

“There’s also the Agarak-Kajaran 32km road project, which is also a strategically important project, and by far the biggest project signed between the Armenian government and Iranian companies. We’ve always encouraged other Iranian companies to also come to Armenia and make use of the good working opportunities here, produce here, and export to other countries. Overall, I can say that our trade and economic ties have good dynamics of development and we will decisively continue this path,” the Iranian Ambassador said.