By Tehran Times Economic Desk

TEHRAN — Due to latest negotiations, Iran will start gas exports to Armenia by Oct. 1st, head of the gas export operation office of the National Iranian Gas Company (NIOC) said here on Wednesday.

"Last week Iran and Armenia held talks and studied the problems of Iranian gas transfer to Armenia. During this negotiations Yerevan declared its readiness to receive Iranian gas and export its electricity to Iran," Rasoul Salmani added, PIN reported.

"Iran plans to annually export some 1.1 billion cubic meters of gas to Armenia. In the first phase Iran will export less volume to Armenia but will increase the export volume gradually," he explained.

"Iran will annually import 3.3 billion kw/h of electricity from Armenia," Rasuli stated while adding that Armenia has not yet decided about the export volume in the first phase.

The 100km Iranian section runs from Tabriz to the Iran-Armenia border. The Armenian section runs from Meghri region to Sardarian.

Iran is expected to supply all of Armenia's gas needs within the next two years. The total outlay for the pipeline is about $28.2 million