Tehran, Yerevan Discuss Gas-Electricity Swap

Tehran, Yerevan Discuss  Gas-Electricity SwapTehran, Yerevan Discuss  Gas-Electricity Swap

A deal to export gas to Yerevan in exchange for electricity imports was discussed in a meeting between Oil Minister Bijan Namdar Zanganeh and his Armenian counterpart Yervand Zakharyan in Tehran on Sunday. "The details of the swap will be worked out in the near future," Zanganeh said on the sidelines of the meeting, ahead of First Vice President Es'haq Jahangiri's trip to the Armenian capital, Shana reported. According to reports, an Iranian-Armenian commission is working on issues related to establishing infrastructure for Iranian gas transit to the West via Armenia. In addition, two 220-kilowatt transmission lines currently run from Iran to Armenia and the Export Development Bank of Iran is set to allocate $93 million for the development of greater cross-border transmission. Iran is the largest exporter and importer of electricity in the Middle East. It exports electricity to Armenia, Pakistan, Turkey, Iraq and Afghanistan, while Azerbaijan and Armenia supply electricity to Iran under a swap agreement.