A senior Iranian oil official announced that the country is due to export 1.5 million liters of gasoline and diesel oil to Armenia each day.
"Based on the agreement, Iran will export 750,000 liters of gasoline and 750,000 liters of diesel oil to Yerevan on daily basis," Iranian Deputy Oil Minister and Managing Director of National Iranian Oil Refining and Distribution Company (NIORDC) Alireza Zeighami stated, Fars News Agency said.
Late in January, Iranian Oil Minister Masoud Mirkazemi announced that Iran and Armenia plan to construct a new oil pipeline to increase energy supply to the Caucasian state.
Speaking on the sidelines of a meeting with visiting Armenian Minister of Energy and Natural Resources Armen Movsisian in Tehran, Mirkazemi said that the pipeline will begin from Iran's Northwestern city of Tabriz and stretch toward the Armenian border.
The minister added that the pipeline can help Armenia meet parts of its needs for oil products from the Islamic Republic.
He added that the two sides will finalize the volume and the value of the exports of oil products during a meeting in the near future.
By 2014, the 365 kilometer eight-inch pipeline will transfer oil products from Tabriz to Yerevan.
Iran and Armenia have also expanded cooperation in power and gas swap in recent years.
Iran mainly exports natural gas to Armenia and imports power supplies from the Caucasian state through two transfer lines with a total power transfer capacity of 220kw/ph at present.
