According to National Iranian Gas Company (NIGC), Majid Chegeni, the deputy minister of oil for gas affairs and NIGC CEO, said: “Today (Tuesday) at the same time as Armenian Prime Minister Nikol Pashinyan's visit to Iran, he signed a memorandum of understanding on cooperation with Iran besides an agreement to extend a gas for power barter agreement 2030.”

He continued: “Based on this, according to the increase in the volume of exported gas, the electricity bartering rate will also be modified.”

The CEO of NIGC stated: “Now we export one million cubic meters of gas to Armenia on a daily basis, which will be doubled based on the new memorandum.”

Armenian Prime Minister Nikol Pashinyan arrived in Tehran on Tuesday at the official invitation of President Ebrahim Raisi, at the head of a high-profile delegation of political and economic officials, and was officially welcomed at Saad Abad Compound.