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Gazprom sees potential for swaps with Armenia’s electric power and Iranian gas

MOSCOW, March 15. /TASS/. Gazprom plans to swap electric power generated at Hrazdan thermal power plant (TPP) in Armenia for Iranian gas, Chief Executive Officer of the Russian gas holding Alexei Miller said on Wednesday.

"We see the upside in improving efficiency of operations on the Armenian market on account of performing swap operations with electricity generated at the fifth unit of Hrazdan TPP in exchange for the Iranian gas," Miller said.

Armenia plans to build a high-voltage power transmission line in 2018, "which will make possible to export electric power to the Iranian market using swaps," he added.

Gazprom prepared a master plan for development of Armenia’s gas sector by 2030, Miller said. The company expects discussion of the paper will start this year, he said. Gazprom provides for reliable gas supply to Armenia, Miller said.

The natural gas price for Armenia is currently equal to $150 per 1,000 cubic meters, Miller said. "We held talks with the government of the Republic of Armenia last December and considered possible to keep the preferential price level for the year of 2017," he said.