Armenia intends to import gasoline from Persian Gulf states

If Tabriz-Yeraskh oil pipeline is constructed, Armenia will import petroleum products from Iran and the Persian Gulf countries, Armenian Energy and Natural Resources Minister Armen Movsisyan said.

Movsisyan said that prices for petroleum products and transportation costs are lower in the Gulf than in the Mediterranean Basin.

“Under an agreement reached with Iran, each side will build its part of the pipeline,” the Minister noted.

Commenting on the project’s financing, Movsisyan said such a profitable program can attract many investors, though use of public funds is not ruled out. The rough calculations show construction of a pipeline requires $100 million investments.

Armen Movsisyan is confident realization of the project will affect the prices for petroleum products in the domestic market, in particular regarding gasoline prices.

According to the Minister, Armenia’s annual demand for gasoline totals nearly 4,000 tons.


/News.am/