ARG WILL MANAGE IRAN-ARMENIA GAS PIPELINE

Lragir, Armenia
Dec 22 2006

The construction of the Iran-Armenia gas pipeline will finish by the
end of this year, 9 days before the year ends, stated the minister
of energy Armen Movsisyan December 22. He declines to comment on the
statements by the Iranian officials that the construction will finish
by the Iranian New Year, i.e. in the middle of spring 2007. However,
Armen Movsisyan could not mention the definite timing when the Iranian
gas will be supplied to Armenia.

Armen Movsisyan is not surprised that only the Russian companies
enter the energy market of Armenia, and explains it by the fact
of coexistence for several years. "we have the same mentality, we
know each other well, the risk is smaller than of any other European
company." And economically "operating 40 km will cost several times
more than ARG’s tender."