CONSTRUCTION OF IRAN-ARMENIA PRODUCTS PIPE LINE MAY START THIS YEAR

/ARKA/
June 4, 2009
YEREVAN

YEREVAN, June 4. /ARKA/. RA Minister of Energy and Natural Resources
Armen Movsisyan hopes that the construction of an Iran-Armenia products
pipe line will be started this year.

The pipe line will allow Armenia to import gasoline and diesel fuel
from Iran.

"Active work to start the construction this year is under way,"
Movsisyan told reporters.

He said that an Iranian work group is soon to visit Armenia to agree
on technical issues, which will allow the sides to launch the project.

The Minister also reported that Armenia and Iran signed a joint-stock
agreement on equal shares in the products pipe line.

"Considering Armenia’s limited resources, the Iranian side agreed
to make the necessary investments in the pipeline provided that the
Armenian side returned the funds," Movsisyan said. The construction of
the pipeline and a terminal in Armenia is estimated at US $240-250mln.

An oil refinery may be a component of the complex. The terminal is
expected to be constructed in Yeraskh, Armenia. Gasoline and diesel
fuel from the oil refinery in Tabriz, Iran, will be piped to the
Yeraskh terminal for further distribution in Armenia.