The Moscow Times
Armrosgazprom to bid for laying Iran-Armenia gas pipeline
RosBusinessConsulting. Tuesday, Jun. 29, 2004, 7:32 PM Moscow Time
The company Armrosgazprom is planning to take part in a tender on
constructing and maintaining an Iran-Armenia gas pipeline, the press service
of the company reported. The customer of the gas pipeline is the Armenian
government. A basic agreement on laying the pipeline was signed in Yerevan
(Armenia) on May 13, 2004. According to the document, the gas pipeline will
be put into operation by January 1, 2007. Armenia will get some 1.1bn cubic
meters of gas annually through this pipeline. Each country is to finance the
laying of a pipeline on its territory. Armenia is expected to spend about
$90m to $100m and Iran some $120m on constructing the pipeline.
Armrosgazprom was created in 1997 in compliance with a Russian-Armenian
government agreement and it is the exclusive wholesale buyer and supplier of
gas in Armenia. The Armenian government and Gazprom have a 45-percent stake
each in the company; Itera has a 10-percent block of shares. Armrosgazprom
owns the whole gas distributing network in the republic.