Armenian side to allocate USD 100 million to Iran –Armenia pipeline constructionFebruary 15, 2011 - 18:15 AMT PanARMENIAN.Net - 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. As Armen Movsisyan stated at February 15 news conference, Persian Gulf market prices significantly differ from those at Mediterranean Sea, which will enable Armenia to dramatically decrease transportation expenses. 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 the Minister stated, Armenia’s internal need for oil products comprises 400 thousand ton a year. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Putin congratulates Pashinyan’s birthday Russian President Vladimir Putin congratulated Armenian Prime Minister Nikol Pashinyan on his birthday on June 1. Opposition motorcade en route to Gyumri for large rally A motorcade of protesters headed by Archbishop Bagrat Galstanyan is heading to the city of Gyumri. Ruling MPs, Foreign Minister talk Armenia-Azerbaijan processes MOs from the ruling Civil Contract party met with the Foreign Minister Ararat Mirzoyan in the Armenian parliament. Russia: Armenia’s frozen membership weakens CSTO position in Caucasus A Russian envoy said any step that could alienate the CSTO member states from each other is “deeply wrong”. |