The Armenian government has decided to establish a new state gas agency – Energaimpex – to deal with the expansion of natural gas imports from Iran, Arka News Agency reported. Currently, the country has no entity entitled to buy and transport gas imports from other countries, particularly from Iran, the Armenian Minister of Energy and Natural Resources, Levon Yolan, declared, according to Armenpress. He said that “with this decision we will have a structure in our country which will have those rights and will implement it.”

Establishing Energaimpex will boost the country’s imports of natural gas from Iran, promoting the productivity of Iran-Armenian gas pipeline. Meanwhile, Iranian Oil Minister, Bijan Zanganeh, announced that Tehran plans to increase exports of natural gas to Armenia from 1mcm/d to 3mcm/d in the next few years.

Furthermore, Iran and Georgia have inked a four-month contract for exporting a total of 40mcm of Iranian gas through Armenia.