IranMania
Sept 28 2004

Gazprom to take part in Iran gas pipeline project

IranMania.com

LONDON, Sep 28 (IranMania) – Inter-parliamentary commission of
Russia- Armenia in economic cooperation is to consider next month
the participation of Gazprom firm in construction of the gas pipeline
between Iran and Armenia.

An informed source in Armenian government told Interfax News Agency
that the Russian Gazprom company intends to offer its cooperation
for construction of 41 kilometers of the pipeline in the Armenian
territory.

According to the aforementioned source the expenditure of construction
is around $30 mln which will be financed by a loan from Iranian Bank of
`Export promotion`.

Interfax News Agency said Iran and Armenia signed an agreement on May
2004 to establish a consortium to provide gas for Armenia. According
to the agreement Iran will provide 36 bln cubic meters of gas for
Armenia in 20 years period.

Meanwhile, it is possible that the agreement be renewed for another 5
years and the amount of gas be increased to 47 bln cubic meters. The
construction work in Iran side started in mid-July and in Armenia
side will start by the end of October.