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GAZPROM MAY FINANCE 10% OF PROJECT TO BUILD IRAN-ARMENIA PIPELINE
Interfax
Nov 9 2009
Russia
OAO Gazprom (RTC: GAZP) will take part in financing the project
to build the oil pipeline connecting Tebriz (Iran) and Yeraskh
(southern Armenia), Armenian Energy and Natural Resources Minister
Armen Movsisyan told Interfax.
Gazprom intends to finance 10% of the total cost of the project
through ZAO Armrosgazprom, Movsisyan said.
The minister said the total value of the pipeline construction will
reach some $250 million and most of the funding will be provided
by Iran.
The minister said earlier that, at the first stage, oil products
will be brought from Iran to Yeraskh and will then be distributed
throughout the entire territory of the republic.
Gasoline and diesel fuel will be delivered from the oil processing
plant in Tebriz to Armenia under this project. There are plans to
build a fuel storage terminal in Yeraskh.
The new pipeline is expected to considerably lower the fuel prices
in Armenia. Armenia needs a total of 450,000-500,000 tonnes of fuel
a year.
Armenia plans to begin building the Armenian section of the pipeline
before the end of 2009.
Interfax
Nov 9 2009
Russia
OAO Gazprom (RTC: GAZP) will take part in financing the project
to build the oil pipeline connecting Tebriz (Iran) and Yeraskh
(southern Armenia), Armenian Energy and Natural Resources Minister
Armen Movsisyan told Interfax.
Gazprom intends to finance 10% of the total cost of the project
through ZAO Armrosgazprom, Movsisyan said.
The minister said the total value of the pipeline construction will
reach some $250 million and most of the funding will be provided
by Iran.
The minister said earlier that, at the first stage, oil products
will be brought from Iran to Yeraskh and will then be distributed
throughout the entire territory of the republic.
Gasoline and diesel fuel will be delivered from the oil processing
plant in Tebriz to Armenia under this project. There are plans to
build a fuel storage terminal in Yeraskh.
The new pipeline is expected to considerably lower the fuel prices
in Armenia. Armenia needs a total of 450,000-500,000 tonnes of fuel
a year.
Armenia plans to begin building the Armenian section of the pipeline
before the end of 2009.