The agreement was announced following a meeting between Iranian Oil Minister Mohsen Paknejad and Armenian Minister of Territorial Administration and Infrastructure Davit Khudatyan, held in Tehran on Saturday.
Hailing Armenia for standing by Iran during difficult periods, Paknejad reaffirmed Tehran’s readiness to strengthen cooperation with its northwestern neighbor within the framework of its technical and economic capabilities.
According to the Iranian oil minister, the two sides reviewed a wide range of potential energy projects, including the expansion of bilateral trade, the export of technical and engineering services, refinery construction, and the supply of petroleum products to Armenia.
Paknejad also announced that Tehran and Yerevan have agreed to establish a joint specialized working group and proposed that it begin operations as soon as possible so that concrete outcomes can be evaluated during the next round of bilateral talks.
The Iranian oil minister noted that the existing energy partnership between the two countries is based on a gas-for-electricity swap arrangement. However, he said Iran has proposed a new commercial framework aimed at expanding natural gas exports.
He added that implementing the proposal will require a comprehensive assessment of existing infrastructure and the feasibility of extending gas trade beyond the Armenian market by utilizing Armenia as a regional transit corridor.