T he third Iranian-Armenian power transmission line will be completed by the end of 2020, Iran’s energy minister said on Tuesday.

Reza Ardakanian was speaking at the 16th session of the joint intergovernmental commission in Tehran, co-chaired by himself and Armenia’s Deputy Prime Minister Mher Grigoryan, ISNA reported.

“Currently, Iran and Armenia exchange 350 megawatts of electricity. Upon the completion of the third line, the capacity to exchange electricity between the two countries will exceed 1,000 megawatts,” Ardakanian said.

The new line is designed to significantly increase Armenian electricity exports to Iran that pays for them with natural gas.