Iran and Armenia to boost energy cooperation

01/06/2011 00:00 Electricity Market


The Iranian newspaper Teheran Times reported that Iran and Armenia will start the construction of a third electricity transmission line between the two countries within two weeks. The project is estimated to cost about $110 million and will have a capacity of 800-900MW between the two countries.

The move came after the Iranian and Armenian energy officials have signed a memorandum of understanding on Monday which reiterated the need to boost cooperation on energy between the two countries. The new electricity line will boost the capacity of power swap between the two countries from the current capacity of 300 MW to 500-800MW. Another subject of negotiations between those two parties was to build two hydroelectric plants in Iran and Armenia of 180-megawatt each.

Daily (01.04.2020): WTI crude rebounded by about 2% on Tuesday, but outlook remains gloomy

01/04/2020 10:58:00

Oil futures evolved differently on Tuesday, with Brent crude edging lower at $22.74 a barrel, but showed some signs of improvement in early trading after U.S. President Donald Trump and its Russian counterpart Vladimir Putin agreed to talks on stabilizing energy markets. Meanwhile, U.S. WTI crude rose by 1.9% to settle at 20.48 a barrel.


Turkey's Energy Exchange hits record in spot gas trade

01/04/2020 10:53:00

Turkey's Energy Exchange Istanbul (EXIST) trade volume in spot natural gas market hit Monday a record high for 2020, EXIST data showed on Tuesday.


Covid-19 crash to speed green shift for oil firms – analysts

01/04/2020 10:50:00

The coronavirus outbreak and accompanying oil price crash – which have seen levels slump to near two-decade lows this week – will hasten a green transition among oil and gas majors, analysts told Montel.