Iran to Double Gas Exports to Armenia in the Near Future

Iranian gas exports to Armenia are set to double soon, according to Iranian Ambassador to Armenia Mehdi Sobhani. Speaking to the Iranian news agency SNN, Sobhani spoke about the growing energy and trade relationship between the two neighboring countries.

A year ago, Armenia and Iran extended their "Gas for Electricity" agreement until 2030. Under this agreement, Iran exports 360 million cubic meters of gas to Armenia annually in exchange for electricity. Sobhani noted that this arrangement has been beneficial for both countries.

Sobhani announced that the construction of a third power transmission line from Armenia to Iran is nearly complete. This new line will be operational within a few months and will allow Iran to double its electricity imports from Armenia. This development is expected to significantly boost energy cooperation between the two nations.

In addition to energy cooperation, trade between Iran and Armenia has also seen a substantial increase. Sobhani reported that the trade turnover between the two countries has reached $711 million. A notable aspect of this trade relationship is the daily movement of 400 trucks between Iran and Armenia, facilitating the exchange of goods.

Sobhani emphasized Armenia's importance as a market for Iran, particularly because Armenia is a member of the Eurasian Economic Union (EAEU). He also highlighted the strategic and geographical significance of the 46-kilometer border between the two countries, which plays a crucial role in regional security.

The Ambassador pointed to several joint projects that are currently underway, including infrastructure and energy programs such as building roads and expanding gas and electricity exchanges. These projects are aimed at further strengthening the economic ties between Iran and Armenia.

The decision to double gas exports to Armenia and the completion of the new power transmission line mark significant milestones in the Iran-Armenia relationship.