Armenia and Iran Extend Gas-for-Electricity Contract

Today, a document extending the "Gas-for-Electricity" contract and increasing its volumes was signed at the Ministry of Territorial Administration and Infrastructure of the Republic of Armenia. The agreement was signed by Aram Ghazaryan, the General Director of Yerevan GEG, and Majid Chegeni, the Deputy Minister of Oil of the Islamic Republic of Iran and the Director of the National Gas Company.

The contract has been extended until 2030.

The Minister of Territorial Administration and Infrastructure, Gnel Sanosyan, congratulated the parties on the extension of the contract, highlighting that it is one of the best manifestations of Armenian-Iranian friendly relations.

“The extension of the contract is a profitable deal for both countries. This extension creates the opportunity to also increase the volumes of gas imports and electricity exports, which will undoubtedly have a positive impact on the development of the economies of both countries,” said Minister Sanosyan.

In turn, Majid Chegeni emphasized the importance of the extension of the contract, noting that it will give new impetus to the development of Armenian-Iranian relations.