Iran is considering the possibility of increasing gas exports to Armenia by five folds, as part of construction of a new electricity transmission line between the two countries, director of the National Gas Export Company of Iran Alireza Kameli said Sunday, reports.

The gas export is carried out in exchange for the purchase of electricity between the two sides, the media reported, citing Kameli.

“On the basis of a joint agreement, the possibility exists to increase the amount of gas exports by five times,” Kameli said, as quoted by the Mehri news agency.

Iran exports nearly one million cubic meters of natural gas to Armenia daily, the official added.

The new electricity networks are expected to increase the volume of power trade between Iran and Armenia from the current 300 megawatts to about one thousand megawatts.