Baku, Azerbaijan, Nov. 24
By Fatih Karimov - Trend: Armenia has announced readiness to boost exports of electricity to Iran, the Tasnim News Agency reported on November 24.
However, due to a barter agreement between the two countries to exchange Armenian electricity for Iranian gas, and the fact that Iran has not yet produced gas from South Pars gas field's new phases, Armenia seems to postpone increasing electricity exports to Iran.
Iran and Armenia started bartering electricity for natural gas on May 13, 2009. According to their agreement, the barter will continue till 2029.
Iran has bartered more than 1.5 billion cubic meters of gas with Armenia's electricity over the past six years, Press TV reported.
The National Iranian Gas Company said recently that around 1.5 billion cubic meters of natural gas has been traded with Armenian electricity during the 2007-2012 period.
On November 5, Iran and Armenia reached new agreements to expand cooperation in the energy sector.
Iranian Energy Minister Hamid Chitchian and his Armenian counterpart Armen Movsisian met in Tehran. The two sides agreed to construct a new power transmission line in order to boost the exchange of electricity between the two countries.
They also agreed to start barter of electricity for natural gas and build a new dam and hydroelectric power plant over the Aras River.
Iran has bartered more than 1.5 billion cubic meters of gas with Armenia's electricity over the past six years, Press TV reported.
The National Iranian Gas Company (NIGC) said recently that around 1.5 billion cubic meters (bcm) of natural gas has been traded with Armenian electricity during the 2007-2012 period.
Last year, the Islamic Republic exchanged some 481 million cubic meters (mcm) of gas with the neighboring country's electricity, the largest amount of bartering between Iran and Armenia in six years.