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Iran, Armenia to increase bartering gas with power

Oil&Gas Materials 15 December 2014 16:21 (UTC +04:00)

Baku, Azerbaijan, Dec. 15

By Fatih Karimov - Trend: Iran is currently exporting natural gas to Armenia in exchange for importing electricity from the country.

Iranian Energy Minister Hamid Chitchian building the third power transmission line between the two countries will increase electricity transfer capacity, while importing more natural gas from Iran, Iran'sFars news agency reported on Dec. 15.

He made the remarks in a meeting with his Armenian counterpart Yervand Zakharian on the sidelines of the 12th Iran- Armenia Joint Economic Commission in Tehran.

Chitchian also said different joint committees have been set up to promote cooperation in banking, trade, transport, telecommunications, tourism, higher education, health, and environment. A special committee has been set up to follow up the construction of Meghri power plant, he noted.

In 2012, Iran and Armenia agreed on construction of a joint hydro-electric power plant on the Aras River, which borders the two countries.

In October, Chitchian said that the hydro-electric power plant project experienced a period of halting due to banking problems, adding the problems have been resolved.

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