Petroleum Economist
July 13, 2004
NEWS IN BRIEF.
** National Iranian Gas Exporting Company has agreed to export 36bn
cm of natural gas by pipeline to Armenia, over 20 years, beginning in
2007. In return, Armenia will transmit power to Iran from a state-run
power plant in Yerevan. The agreement will require construction of a
141-km pipeline, expected to cost $220m.
**The EU froze Euro100m ($122m) of aid after the government refused
to agree a timetable on decommissioning a Soviet-designed nuclear
power plant, sited 40 km from Yerevan. The reactor was closed in the
mid-70s after an earthquake devastated the area, but was restarted in
1995 because of energy shortages.