Iran, Armenia sign agreement on gas export

IRNA, Iran
May 15 2004

Tehran, May 15, IRNA — Iran and Armenia signed an agreement in
Yerevan on Thursday to construct gas pipelines that will tranport
Iranian gas to Armenia.

According to the Persian-language daily Hamshahri, the agreement was
signed during a visit by Iranian Oil Minister Bijan Namdar Zanganeh
to Yerevan by and between the Iranian National Gas Export Company
and officials of Armenia.

According to the agreement, Iran will export 1.1 billion cubic meters
of gas to Armenia with the possibility of exports being raised to
2.3 billion cubic meters.

Under the agreement, exports of Iranian gas, estimated at 10 billion
dollars, will be paid through a barter system.

Iran will launch gas exports to Armenia in 2007. Total volume of
gas exports to Armenia is targeted at 36 billion cubic meters, which
could be increased to 47 billion cubic meters.

The agreement is an added step to strengthening the position of Iran
as a secure energy provider, especially of gas.

In addition to exports of gas, the two countries have agreed to the
construction of a gas pipeline that will open a new route for the
transport of Iranian gas to the region via Georgia, the Black Sea
and Ukraine.

From: Emil Lazarian | Ararat NewsPress