MAIN AGREEMENT ON BUILDING IRAN-ARMENIAN GAS PIPELINE SIGNED

PanARMENIAN.Net - The main agreement on the building of the Iran-Armenia gas pipeline was signed in Yerevan May 13. As stated by Armenian Minister of Energy Armen Movsisian upon the completion of the signing ceremony, the pipeline will be commissioned by the beginning of 2007. The preliminary cost of the project is $220 million. $100 million are necessary to build the Armenian segment of the tube. Thereupon, in the words of A. Movsisian, Armenia considers several options of financing the project, including participation of foreign companies. In his turn Minister of Oil and Gas of Iran Bijan Zanganeh noted that the document is signed for a term of 20 years and within that period 36 billion cubic meters of gas will be supplied to Armenia.