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HULIQ.com, SC
July 16 2010
Iran, Armenia to build joint oil pipeline
Submitted by Sandy Smith on 2010-07-16
The governments of Iran and Armenia announced today that they will
split 50-50 the cost of building a 217-mile oil pipeline between the
two countries.
The pipeline will carry gasoline and diesel fuel from refineries in
the northwestern Iranian city of Tabriz to the Armenian city of
Esrakh.
Iran's state-run Press TV channel reports that Armenian Minister of
Oil and Natural Resources Armen Movsisyan said work on the pipeline
will begin sometime this fall.
Public Radio of Armenia quoted Movsisyan as saying that the upfront
money for the project would come from Iran, with Armenia's share
coming as dividends pour in. Press TV also reports that private
investors will be invited to participate in the project once it is
complete.
Movsisyan said that the total cost of the project will run from $160
to as much as $180 million.
The project was announced as the United States imposed new sanctions
on Iran's energy sector, part of an ongoing Western effort to halt
Iran's nuclear program. The Iranian government characterizes the
program as peaceful, but many observers outside the country say Iran
aims to produce a nuclear warhead.
From: A. Papazian
July 16 2010
Iran, Armenia to build joint oil pipeline
Submitted by Sandy Smith on 2010-07-16
The governments of Iran and Armenia announced today that they will
split 50-50 the cost of building a 217-mile oil pipeline between the
two countries.
The pipeline will carry gasoline and diesel fuel from refineries in
the northwestern Iranian city of Tabriz to the Armenian city of
Esrakh.
Iran's state-run Press TV channel reports that Armenian Minister of
Oil and Natural Resources Armen Movsisyan said work on the pipeline
will begin sometime this fall.
Public Radio of Armenia quoted Movsisyan as saying that the upfront
money for the project would come from Iran, with Armenia's share
coming as dividends pour in. Press TV also reports that private
investors will be invited to participate in the project once it is
complete.
Movsisyan said that the total cost of the project will run from $160
to as much as $180 million.
The project was announced as the United States imposed new sanctions
on Iran's energy sector, part of an ongoing Western effort to halt
Iran's nuclear program. The Iranian government characterizes the
program as peaceful, but many observers outside the country say Iran
aims to produce a nuclear warhead.
From: A. Papazian