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TEHRAN: Iran Gas Export A Bonanza For Armenia

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  • TEHRAN: Iran Gas Export A Bonanza For Armenia

    IRAN GAS EXPORT A BONANZA FOR ARMENIA

    PRESS TV, Iran
    Oct 5 2007

    Armenian minister of energy says that Iran-Armenia gas pipeline
    project will bring economic and political prosperity for Yerevan.

    "Armenia is assigned to transfer three kilowatt-hours electrical
    energy to Iran in return for one cubic meter gas," Armenia's Minister
    of Energy Armen Movsisyan told the Armenian '168 Hours' daily.

    The gas pipeline, which was inaugurated early this year with the
    Iranian President Mahmoud Ahmadinejad and his Armenian counterpart
    Robert Kocharian in attendance, will supply all the natural gas needed
    by Armenia in two years.

    According to the schedule, the pipeline is expected to transfer 400
    million cm annually in the first phase which will sharply jump up to
    2.5 billion cm in the second phase.

    In a joint venture Iran and Armenia have given a go ahead to the
    construction of a 140 megawatt power station in Aras River flowing
    on Iran-Armenia border.

    Tehran and Yerevan have also signed an agreement to manufacture an
    oil derivates refinery in Armenia at a cost of 2.5 billion dollars.

    From: Emil Lazarian | Ararat NewsPress
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