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Iranian Oil Minister Bijan Namdar Zanganeh discussed ways of boosting gas and electricity trade with Armenian Minister of Territorial Administration and Infrastructure Suren Papikyan.
Iran`s export of gas to Armenia and receiving electricity from the country were the focus of the meeting which was held in Tehran on Sunday.
During the meeting. Zanganeh described the energy sector as the most important part of the Iran-Armenia relations and trade. adding bartering gas for electricity with Armenia is one of the areas of cooperation between the two countries.
Iran and Armenia have been cooperating for years in gas and electricity swap. and two-way economic and political ties have grown in tandem with an increase in trade.
The neighbors signed a gas-for-electricity barter deal in 2004 for 20 years. According to the contract. Iran`s export of gas will be consumed by power plants in Armenia and Iran imports electricity from Armenia in return. Armenia started importing gas from Iran since in mid-2009.
