Iran and Armenia plan to construct a new oil pipeline to increase energy supply to the Caucasian state, Iranian Oil Minister Massoud Mir-Kazzemi announced, FARS News reported.
Speaking on the sidelines of a meeting with visiting Armenian Minister of Energy and Natural Resources Armen Movsisian here in Tehran on Saturday evening, Mir-Kazzemi said that the pipeline will begin from Iran's Northwestern city of Tabriz and stretch toward the Armenian border.
The minister added that the pipeline can help Armenia meet parts of its needs for oil products from the Islamic Republic.
He added that the two sides will finalize the volume and the value of the exports of oil products during a meeting in the near future.
Iran and Armenia have expanded cooperation in power and gas swap in recent years.
Iran mainly exports natural gas to Armenia and imports power supplies from the Caucasian state through two transfer lines with a total power transfer capacity of 220kw/ph at present.
In October, the two sides agreed to form a joint working group to explore way of expanding their mutual cooperation in grounds of water and renewable energy resources.
The agreement was made in a meeting between Iranian Minister of Energy Majid Namjou and Movsisian in Tehran.