National Iranian Gas Exports Company (NIGEC) Managing Director has said that an agreement was reached with Armenia to bring about a threefold increase in Iran’s gas exports to the Caucasus region country, Armenpress reported. The accord comes following a power deal between the two countries over increasing the electricity exchange volume, also threefold, Pan Armenian informed.

Iran is now deploying 1mcm/d of natural gas to Armenia and the figure will hit 3mcm/d overall, according to a statement by Alireza Kameli, NIGEC Chief. Kameli also pointed to the country’s gas production capacity stating that “at present, there are no limitations for increasing gas exports to Armenia.”

Additionally, construction of the new power network will boost an electricity exchange volume that currently stands at 1,000MW.