Iran, Armenia Gas Barter Deal Extended Until 2030

Iran and Armenia signed a memorandum of understanding on Tuesday to extend a gas-for-power barter agreement until 2030.
The MoU was signed in Tehran between Armenian Prime Minister Nikol Pashinyan and Managing Director of the National Iranian Gas Company Majid Chegeni, the Oil Ministry’s news agency Shana reported.
“We’re currently exporting 1 million cubic meters of gas to Armenia on a daily basis, which figure will be doubled on the basis of the new agreement,” Chegeni said.
A 20-year contract signed by the two countries in 2004 took effect in mid-2009, based on which Iranian natural gas is bought by Armenia against supplying electricity to Iran.