Press TV, Iran
Oct 13 2007
Gazprom keen on Armenia oil refinery
Sat, 13 Oct 2007 13:16:48
Gazprom is interested in constructing a refinery in Armenia.
Russia’s energy Gazprom Company has said it is positive about a joint
project on construction of an oil refinery with Iran in Armenia.
Gazprom Neft – the oil arm of the Russian energy company Gazprom – is
reportedly considering an investment of $1.7 billion to build the
joint oil refinery, which would process oil pumped from Tabriz in
northern Iran, `The Messenger’ reported.
Gazprom officials say it will process 5-6 million tons of oil
annually. Some would be used by Armenia; most would be shipped back
to Iran.
Valery Golubev, head of Gazprom’s investment and construction
department, commented that the project is still in the offing but an
appropriate 400 hectare site for the refinery has yet to be found.
Some Russian commentators suggest the project is motivated by
political rather than financial interests, as usually the most
economically right location for an oil refinery is near a major
pipeline route or at a seaport.
However, Gazprom replies that with effective management, the refinery
could be economically profitable and may offer competition for
Azerbaijan, the main oil exporter in the South Caucasus.
However, Regnum quotes Gobulev as saying, `Building an oil refinery
in Armenia is interesting for Gazprom from the geopolitical point of
view.’