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Contruction Of Oil Pipleline, Oil Terminal In Armenia Estimated At $

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  • Contruction Of Oil Pipleline, Oil Terminal In Armenia Estimated At $

    CONTRUCTION OF OIL PIPLELINE, OIL TERMINAL IN ARMENIA ESTIMATED AT $240-260MLN

    ARKA
    March 20, 2009

    YEREVAN, March 20. /ARKA/. The construction of an oil pipeline and
    oil terminal is estimated at $240-260mln, RA Minister of Energy Armen
    Movsisyan told ARKA.

    "The figure will be specified after the project work has been completed
    in two months," he said.

    The Minister said that the work is under way and field operations
    will be launched this year.

    "I mean the construction of platforms, transportation and pipe
    welding," the Minister said.

    Movsisyan pointed out that an oil refinery may form part of the
    oil complex.

    "The issue is regularly discussed. It will be an Armenian-Iranian JV.

    The funds are being attracted from Iran provided they are returned
    in the future," the Minister said.

    In his earlier interviews, Minister Movsisyan stated that Armenia and
    Iran reached an agreement on the construction of an oil terminal in
    Yeraskh, Armenia. Petrol and diesel fuel is to be piped to Yeraskh
    from Tabriz, Iran, for further distribution in Armenia.
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