Armenia and Iran Renew 'Gas for Electricity' Deal Until 2030
On August 10, Armenia and Iran extended the "gas in exchange for electricity" agreement until 2030. A document on the extension of gas supplies from Iran in return for electricity generated in Armenia with an increase in supply volumes was signed at the Armenian Ministry of Territorial Administration and Infrastructure. Aram Ghazaryan, the Director of Yerevan Thermal Power Plant CJSC, and Majid Chegeni, the Head of the National Iranian Gas Company, signed the document.
Armenian Minister of Territorial Administration and Infrastructure Gnel Sanosyan congratulated the parties on extending the agreement, emphasizing that it is one of the best manifestations of Armenian-Iranian friendly relations. "The extension of the contract is a favorable deal for both countries as it creates an opportunity to increase gas imports and electricity exports, which will certainly have a positive impact on the development of the economy," Minister Sanosyan said.
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