Iranian Minister of Petroleum Javad Owji and Advisor to Armenian Prime Minister Artashes Tumanyan reviewed developing long-term cooperation in energy field.
Armenia has low hydrocarbon reserves and is dependent on importing fuel and the nuclear power plant that was built during the former Soviet Union to provide the energy.
Due to political disputes with its neighbors in east and west of the country, namely Azerbaijan and Turkey, Armenia has to meet its energy needs from Iran and Georgia.
Russia, too, is now supplying about 80% of Armenia’s demand for gas.
Tehran and Yerevan signed a 20-year gas and electricity purification agreement in 2004, according to which Iran’s gas will be used by the Armenian power plants and in exchange, Iran imports electricity from Armenia.
