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United Press International UPI
July 16 2010
Iran, Armenia to split oil pipeline cost
YEREVAN, Armenia, July 16 (UPI) -- The Armenian and Iranian
governments agreed to split the cost evenly for the construction of a
217-mile oil pipeline, the Armenian oil minister said.
Iran sits on some of the largest oil and gas deposits in the world.
Armenia would receive 70,000 barrels of oil through the proposed
Shahnazi-Zadeh pipeline.
Armen Movsisyan, the Armenian minister of oil and natural resources,
said his country agreed to split the cost of the pipeline with Iran,
Iran's state-funded broadcaster Press TV reports.
The minister estimated that it would cost as much as $180 million to
build the 217-mile pipeline.
The development follows passage in Washington of unilateral sanctions
that target the Iranian energy sector.
The report from Press TV said construction on the oil pipeline was
expected later in 2010.
NATO in 2008 warned Armenia that it needed to take steps to increase
transparency in the energy sector to counter high energy costs.
Iran and Armenia announced plans last year to build a 70-mile natural
gas pipeline as well.
From: A. Papazian
July 16 2010
Iran, Armenia to split oil pipeline cost
YEREVAN, Armenia, July 16 (UPI) -- The Armenian and Iranian
governments agreed to split the cost evenly for the construction of a
217-mile oil pipeline, the Armenian oil minister said.
Iran sits on some of the largest oil and gas deposits in the world.
Armenia would receive 70,000 barrels of oil through the proposed
Shahnazi-Zadeh pipeline.
Armen Movsisyan, the Armenian minister of oil and natural resources,
said his country agreed to split the cost of the pipeline with Iran,
Iran's state-funded broadcaster Press TV reports.
The minister estimated that it would cost as much as $180 million to
build the 217-mile pipeline.
The development follows passage in Washington of unilateral sanctions
that target the Iranian energy sector.
The report from Press TV said construction on the oil pipeline was
expected later in 2010.
NATO in 2008 warned Armenia that it needed to take steps to increase
transparency in the energy sector to counter high energy costs.
Iran and Armenia announced plans last year to build a 70-mile natural
gas pipeline as well.
From: A. Papazian