BAKU, Azerbaijan, July 25. Iran and Armenia have agreed to establish a joint working group in the energy sector.

This was announced by the Iranian Oil Ministry, citing the Oil Minister Mohsen Paknejad's remarks during a meeting with Armenian Minister of Territorial Administration and Infrastructure David Khudatyan.

“Iran has proposed to Armenia that a joint special working group be established. This working group should start operating as soon as possible, and its results should be reviewed at the next meetings,” he said.

Iran has proposed that a new model for gas trade be developed, energy cooperation with Armenia and even gas exports to other markets through Armenia be explored.

“The current model of cooperation between Iran and Armenia is based on the barter of gas and electricity. However, Iran’s clear proposal is to establish a new trade model for gas exports. The implementation of this proposal depends on the study of existing infrastructure and the possibility of developing gas trade,” he said.

Paknejad noted that ways of cooperation with the Armenian side in the fields of trade, technical and engineering services, construction of oil refineries, and meeting Armenia's needs in the field of oil products were explored.

The Iranian minister said that there are suitable opportunities for the development of bilateral cooperation between Iran and Armenia, especially in the energy sector.

During the meeting, Khudatyan also said that Armenia imports and uses gas in exchange for electricity transmission to Iran. Armenia is interested in increasing bilateral cooperation and exchange volumes.