Bank Of Baku

Armenia-Iran gas pipeline inaugurated

Armenia-Iran gas pipeline inaugurated
# 19 March 2007 15:08 (UTC +04:00)
The Armenia-Iran gas pipeline was inaugurated today, APA reports. Iranian President Mahmoud Ahmadinejad and his Armenian counterpart participated in the inauguration. The construction of 141km- pipeline started in November 2004. Armenia will buy 1.5million cubic meters of Iranian gas in the first stage. 150km-gas pipeline from Gajaran to Ararat is planned to be constructed in the second stage. The project costs $200-250 million. Along with Iran and Armenia Russian companies Gazprom and EES Rossli participate in the construction of the pipeline.
Iran will export 36bn cu m natural gas to Armenia within 20 years. Electricity will be produced in Armenia and exported to Iran. /APA/
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THE OPERATION IS BEING PERFORMED