The Region in Brief

Armenia

Armenia and Iran agreed to double natural gas exports from Iran to Armenia during a visit by Armenian PM Nikol Pashinyan to Tehran on November 1. Armenia currently imports about 365 million cubic meters of natural gas from Iran every year based on a gas-for-electricity agreement, under which Armenia gets one cubic meter of gas in exchange for three kilowatt hours of electricity produced in Armenia. Iran’s president Ebrahim Raisi said that trade between the two countries increased 43-percent in the past year, and they hope to increase annual bilateral trade to $3 billion. Pashinyan said that closer cooperation in the energy, agricultural and road construction spheres has “huge potential.”