Iran and Armenia agree to boost energy ties

May 31, 2011 12:00 AM

Iran and Armenia have signed a memorandum of understanding to boost cooperation on oil, gas and electricity and expand their commercial and industrial ties.
Armenian Energy Minister Armen Movsisian signed the agreement with Iranian Foreign Minister Ali Akbar Salehi in Tehran.

“The volume of trade between the two countries has increased by 38 % in 2010, rising to $ 270 mm,” said Salehi, adding that Iranian President Mahmoud Ahmadinejad would soon visit Armenia.
The two countries have decided to build a power line with a capacity of 500-800 MW linking their electricity grids. Tehran and Yerevan are also mulling over plans for Iranian companies to construct two 180-MW hydroelectric dams on Aras river, which borders the two countries.

In February 2011, Movsisian announced plans to construct a 365-km (227-mile) pipeline from the north-western Iranian city of Tabriz to Eraskh in Armenia. The pipeline would provide Armenia with an alternative to Russian energy imports, which were disrupted by the Georgia-Russia war in 2008.
In 2007, the two countries inaugurated a gas pipeline designed to transport 36 mm cmpd of Iranian gas to Armenia for 20 years.

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