NEWS
ECONOMY   Energy  

Iran, Armenia discuss boosting energy trade

Iranian Oil Minister Bijan Namdar Zanganeh met with Armenian Minister of Territorial Administration and Infrastructure Suren Papikyan on Sunday to discuss boosting gas exports to the country in return for importing more electricity, Shana reported.

 

In the meeting, Zanganeh underlined the energy sector as the most important aspect of the Iran-Armenia’s economic relations, saying that “exporting Iranian gas to Armenia in exchange for receiving electricity (bartering gas with electricity) is part of the cooperation between the two countries.”

Iran and Armenia signed a gas-for-electricity barter deal in 2004, based on which, for a 20-year period, Iran would export gas to Armenia to be consumed by the country’s power plants, and in return, Iran imports electricity from Armenia. 

Armenia started importing gas from Iran since mid-2009.

Suren Papikyan visited Tehran on top of a delegation to attend the 19th Iran International Electricity Exhibition (IEE 2019).

Earlier on Saturday, Papikyan had said that Iran could act as an electricity hub in the region to connect Armenia to other nations like Iraq.

“Just as Armenia is a gateway for Iran's relations with Georgia and the Eurasian Union countries, naturally, Iran could also be a gateway for Armenia's greater connection with Iraq and other countries in the region,” he said.

Iran and Armenia have been cooperating for years in gas and electricity swap, and two-way economic and political ties have grown in tandem with an increase in trade.

News No: 7278
Date: 2019/11/04 - 01:37
News Source: Tehran Times

electricity swap  Iran Armenia  energy trade  Bijan Namdar Zanganeh 

Comments:

Leave a Comment:

   
   
   
 

US Unable to Hinder Iran’s Methanol Exports

Iran exports 8 million tonnes of methanol in a year, which the US has been unable to affect, despite all claims of American officials.
 

NIOC announces expected discovery of a new oil field

The director of the National Iranian Oil Company (NIOC)'s Discovery Department said a new giant oil field is expected to be discovered in southwestern Iran and the discovery operations will be finalized by the end of the current Iranian calendar year (March 2020).
 

New Oil Find, Iran’s Second Biggest Reserve: Zanganeh

Iranian Oil Minister Bijan Namdar Zanganeh said the oil reserve recently discovered in the southwestern province of Khuzestan is the second largest in the country.
 

Armenia eyes expansion of electricity co-op with Iran

Armenian minister of territorial administration and infrastructure said Iran could act as an electricity hub in the region to connect Armenia to other nations like Iraq, ILNA reported on Saturday.
 

Iran’s Giant Pet-Chem Plant Posts Significant Rise in Production

Tondgouyan Petrochemical Company, the largest supplier of PET in Iran, has recorded a superb performance in the first 7 months of the current local calendar year (March 21-October 22) with an output at 103% of its nameplate capacity.
 

Minister Lauds Iranian Company for Making 200 Turbines

Iranian Oil Minister Bijan Namdar Zanganeh, in a visit to a manufacturing site of the Oil Turbo Compressor Company (OTC) in Tehran lauded the country’s self-sufficiency in producing equipment and machinery needed in the oil and gas industry, highlighting that the OTC has so far outputted 200 set of 25-megawatt turbines.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners