Armenian govt. approves Iran-Armenia pipeline construction regulations

Armenian govt. approves Iran-Armenia pipeline construction regulations

PanARMENIAN.Net - On April 12, the Armenian government approved the technical regulations of the operation of Iran-Armenia oil pipeline.

In this context, Armenian Prime Minister Tigran Sargsyan attached importance to initial setting of technical regulations for the construction of the pipeline.

Iran-Armenia oil pipeline construction, scheduled to be completed in 2014, will allow Armenia to export oil products both from Iran and the Persian Gulf, a major market for petroleum products, according to Armenian Minister of Energy and Natural Resources.

Construction of Armenia-Iran pipeline will be funded on both sides, with Armenia allocating USD 100 million to the project.

Pipeline operation contract will be concluded for the period of 25 years. As Armen Movsisyan stated, Armenia’s internal need for oil products comprises 400 thousand tons a year.

 Top stories
A relevant agreement was signed by the minister of finance Gagik Khachatryan and German ambassador to Armenia Rayner Morel.
The total cost of the final deal is over AMD 85.8 billon to be paid in two equal halves, after completion of the deal formalities.
Aleksei Miller was also scheduled to meet with government officials in Germany, which is a major customer of Gazprom’s supplies.
Access to finance is a major impediment to the growth of micro, small and medium enterprises, especially in the rural areas.
Partner news