Iran-Armenia set to build oil pipeline
Yerevan, February 16, 2011
Construction will begin this year of a pipeline taking oil from Iran to Armenia, boosting the isolated ex-Soviet state’s energy security, the Armenian energy minister has said.
The 365km pipeline from the Iranian city of Tabriz to Eraskh in Armenia follows the opening of a oil pipeline from Iran and will provide the country with an alternative to Russian energy imports, which were disrupted by the Georgia-Russia war in 2008.
“The diversification of energy sources is a guarantee of our country’s energy security,” minister Armen Movsisian was quoted as saying in a report in our sister newspaper Gulf Daily News.
“The pipeline will provide the country with stable imports,” he said.
After the pipeline is completed in 2013, Armenia will receive 1.5 million litres of Iranian petrol and diesel a day for 25 years, the minister said.
Each country is to bear the cost of building its section of the pipeline, with the Armenian section expected to cost $100 million.
“Before the end of the year we will resolve problems connected with the cost of fuel, technical parameters and sources of finance, and we will be able to start construction,” Movsisian said.
More Energy, Oil & Gas Stories
- Opec cuts output closer to 2014 demand
- Oil industry struggling to attract women, says survey
- Rolls Royce wins Abu Dhabi offshore deal
- Alternative energy strategies probed
- GCC firms consider Occidental Mena stake bid
- Experts discuss Mena energy markets outlook
- Saudi Nov output steady, pumps 9.745m bpd
- Libya lost $7bn to oil strikes, says minister
- Iran to start gas exports to Iraq by July 2014
- Taqa invites banks ahead of bond issue