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Armenian Government To Sell Iranian-Armenian Gas Pipeline

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  • Armenian Government To Sell Iranian-Armenian Gas Pipeline

    ARMENIAN GOV'T TO SELL IRANIAN-ARMENIAN GAS PIPELINE

    RosBusinessConsulting, Russia
    April 6 2006

    RBC, 06.04.2006, Moscow 14:35:30.Gazprom and the Armenian government
    have signed an agreement under which Armrosgazprom is to buy the
    40-kilometer section of the Iranian-Armenian gas pipeline under
    construction and the fifth energy generating unit of the Razdan Thermal
    Power Plant (Razdan-5) from the republic's government, Gazprom's press
    service reported. A preliminary purchase agreement is to be signed by
    April 14 while the transfer of ownership should be completed by January
    1, 2007. The Armenian government will also entitle Armrosgazprom to
    act as the Customer for construction of the second section of the
    Iranian-Armenian gas pipeline, which is 197 kilometers long.

    To secure efficient gas conversion into electric power, the parties
    will join efforts to recover and hook up the Razdan-5 assets under a
    unified control center, and to launch construction of a gas turbine
    unit with a capacity of 140 megawatts.

    Further operation of these facilities will allow decreasing fuel
    costs related to energy production. The agreement makes provisions
    for export of the energy generated at Razdan-5. As soon as the deal is
    completed, Gazprom will obtain qualified majority in Armrosgazprom's
    authorized capital.
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