TODAY.AZ / Business

Construction of 22.5 km long section of Iran-Armenia pipeline to be completed by August

22 May 2006 [19:23] - TODAY.AZ
The ArmRosgazprom Company intends to complete construction of 22.5 km of the first 47 km long section of the Iran-Armenia pipeline, ArmRosgazprom Director General Karen Karapetyan announced at a meeting with the press on May 22.

According to him, the agreement on construction of the 22.5 km long section worth $2.7 million was signed by the company and Arvandan Company (Iran).

"After finalizing construction of the first section of the Iran-Armenia pipeline, it will be connected to ArmRosgazprom gas system," Karen Karapetyan noted adding that ArmRosgazprom will have to increase carrying capacity of its pipes, in particular, by extending the diameter. "We do not know yet, how it will be financed, probably, from the Armenian state budget, probably, by the Iranian side, or, maybe, with the help of new investors," Karen Karapetyan noted.

As he said, all the countries in the region experience deficit in energy. "From this point of view, Armenia has an opportunity to become a liberal place, as there is untapped energy potential and a brilliant perspective to supply energy particularly to Iran, Iraq, Turkey, Georgia and Azerbaijan," Karen Karapetyan pointed out.



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