Iran and Armenia to start energy barter next year

Mehr News Agency, Iran
May 7 2006

TEHRAN, May 7 (MNA) — Iran and Armenia are planning to start an
earlier agreed upon energy barter in the next year.

Iran has offered to supply Armenia with natural gas in exchange for
electricity imports from the Republic of Armenia, a report said here
on Sunday. Construction works of the pipeline for carrying Iran’s
natural gas to Armenia have already started and is expected to be
completed in the next year, the report added.

Based on the deal, Iran’s natural gas export to the Transcaucasian
state is scheduled to hit three million cubic meters per day, an
official with National Iranian Gas Company (NIGC) said.

Iran will receive three kilowatts of electricity from Armenia in
exchange for each cubic meter of natural gas it exports to the
republic.

The agreement over the construction of the natural gas pipeline was
signed between the officials of the two countries during the Armenian
President Robert Kocharian’s visit of Iran in December 2005.