Iran’s National Gas Export Company and Armenia’s Energoimpeks signed a memorandum of understanding (MoU) for the transit, sale, and purchase of gas. The final agreement will be submitted soon for the final approval by the parties, reported Asbarez News.

Armenia currently receives about 370mcm/y of gas from Iran, which is converted into electricity and is shipped back to Iran. It is expected that Iran would triple its gas exports to Armenia by 2019 and will also sell gas to Georgia through Armenia. Tehran plans to increase natural gas exports to Armenia from 1mcm/d of gas to 3mcm, according to Payvand News.

The preliminary signing of the MoU took place during a visit to Iran by an Armenian delegation, headed by the Deputy Minister of Energy Infrastructures and Natural Resources, Hayk Harutyunyan.During the visit, members of the Armenian delegation met with Iran’s Deputy Minister of Oil and Director of the National Gas Company, Khamid Aragi, in the presence of the Acting Executive Director of the National Gas Export Company of Iran, Ali Amirani, to discuss cooperation between the two countries in the gas sector.