Agency WPS
The Russian Oil and Gas Report (Russia)
May 17, 2004, Monday

IRAN AND ARMENIA SIGNED AN AGREEMENT ON CONSTRUCTION OF A GAS
PIPELINE

The agreement on construction of the Iran-Armenia gas pipeline was
signed on May 13. The Armenian Energy Ministry reported that Energy
Minister of Armenia Armen Movsesyan and Oil Minister of Iran Namdar
Zanganeh signed the agreement.

Under the agreement Iran will supply 1.1 billion cubic meters of
natural gas to Armenia a year and Armenia will pay for the gas with
electric energy. The countries also plan to increase gas supplies to
2 billion cubic meters a year in the future. The companies to build
the pipeline will be chosen at a tender. Previously the Armenian
party spoke about intention of Gazprom and Ukrainian companies to
take part in the project. Construction of the pipeline will cost
about $90 million for Armenia and $120 million for Iran.

Source: gazeta.ru, May 14, 2004

From: Emil Lazarian | Ararat NewsPress