Iran has bartered more than 1.5 billion cubic meters of gas with Armenia’s electricity over the past six years.
National Iranian Gas Company (NIGC) said on Sunday that around 1.558 billion cubic meters of gas has been traded with Armenian electricity during the period of 2007 and 2012. Last year, the Islamic Republic exchanged some 481 million cubic meters of gas with the neighboring country’s electricity, the largest amount of bartering between Iran and Armenia in six years. On June 12, the UK-based energy giant, BP, classed Iran as the world’s top gas reserves holder with 33.6 trillion cubic meters. Iran has been trying to boost its gas production by attracting foreign and domestic investments, especially in South Pars gas field. South Pars is part of a wider gas field that is shared with Qatar. The larger field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran's territorial waters (South Pars) in the Persian Gulf. The remaining 6,000 square kilometers, referred to as the North Dome, are in Qatar's territorial waters.