Armenia, Iran extend agreement on mutual supplies of gas and electricity

Armenia and Iran signed a document on the extension of the Gas in Exchange for Electricity agreement until 2030, Report informs via TASS.

As reported by the press service of the Ministry of Territorial Administration and Infrastructures of Armenia, the agreement was signed by General Director of Yerevan Thermal Power Plant CJSC Aram Ghazaryan and Deputy Oil Minister of the Islamic Republic of Iran, CEO of the National Gas Company Majid Chegeni.

"The extension of the agreement is a mutually beneficial deal. It will create an opportunity to increase the volume of gas imports and electricity exports, which will certainly have a positive impact on the economic development of both countries," Armenia's Minister of Territorial Administration and Infrastructures Gnel Sanosyan said.

Armenia and Iran started mutual deliveries of electricity in exchange for gas in 2009.