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25 June 2003 - Iran is to enter into an agreement with Turkmenistan to import $120m worth of electricity annually, an Iranian diplomat said Wednesday.
The Iranian energy minister will visit Turkmenistan shortly to determine the amount of electricity to be imported by his country, Iranian Deputy Foreign Minister Mohsen Aminzadeh said during a meeting with Turkmen President Saparmurat Niyazov.
Turkmenistan exports electricity to Iran through a 270km power line from Balkanabad to Ali-Abad, which was initially designed as an energy bridge to Turkey.
The power line can transport up to 200 MW per hour, the energy ministry said. Turkmenistan plans to export 640m kWh of electricity to Iran in 2003 at a price of $0.02 per kWh. Iran will pay for half of the electrical power with foreign currency and the other half with supplies of equipment to Turkmen Energy Ministry enterprises.
In addition to Iran, Turkmenistan also exports electricity to Afghanistan where new power lines are being built.
Iran has an installed capacity of 28.5GW and is experiencing a 7 per cent annual growth in power demand.
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