Economic Magazine

Iran raises the volume of gas supply for electricity in accordance with a swap contract with Armenia

The Executive Director of the National Gas Company of Iran, Hamid Reza Iraqi, on Sunday, the renewal of the contract for the exchange of gas for electricity with the state of Armenia under new conditions.

“The previous contract was to export Armenia 3 kilowatt hours of electricity in return for receiving 1 cubic meter of Iranian gas,” an Iraqi told Iran’s Shana news agency.

He added that the terms of the new contract “according to the new contract to increase the volume of exchange between the two countries, so that the volume of gas transit Iran from 1 to 1.6 million cubic meters per day, and in return Armenia will increase electricity exports to Iran.”

The Iran-Armenia Gas Swap Agreement was first signed in 2004.

Barter contracts are a way out for Iran to conclude economic deals with the world after the United States withdrew from the nuclear deal last month.

US President Donald Trump announced on May 8 / May last US withdrawal from the Comprehensive Agreement on Iran’s nuclear program, which has been reached between the “international six-party” international Russia and the United States, Britain, China, France and Germany with Iran in July 2015 Pastors.

Trump also announced the resumption of all penalties suspended as a result of the deal.

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