According to the Persian-language daily Hamshahri, the agreement was signed during a visit by Iranian Oil Minister Bijan Namdar Zanganeh to Yerevan by and between the Iranian National Gas Export Company and officials of Armenia.
According to the agreement, Iran will export 1.1 billion cubic meters of gas to Armenia with the possibility of exports being raised to 2.3 billion cubic meters.
Under the agreement, exports of Iranian gas, estimated at 10 billion dollars, will be paid through a barter system.
Iran will launch gas exports to Armenia in 2007. Total volume of gas exports to Armenia is targeted at 36 billion cubic meters, which could be increased to 47 billion cubic meters.
The agreement is an added step to strengthening the position of Iran as a secure energy provider, especially of gas.
In addition to exports of gas, the two countries have agreed to the construction of a gas pipeline that will open a new route for the transport of Iranian gas to the region via Georgia, the Black Sea and Ukraine.
... Payvand News - 5/15/04 ... --