IRAN SAYS PIPELINE BLAST HALTS ITS GAS EXPORTS TO ARMENIA

NASDAQ
Nov 12 2009

LONDON -(Dow Jones)- Iran’s gas exports to Armenia were temporarily
interrupted Wednesday due to an explosion on the Armenian section of
their joint pipeline, an Iranian oil ministry Web site said.

Armenian officials informed Iran on Wednesday morning that an explosion
had occurred on the pipeline, the ministry’s Shana agency said,
without specifying the reasons for the blast.

Iran will resume gas exports to Armenia as soon as the Armenians
repair the pipeline, it added.

Iran started the export of natural gas to Armenia in May.

According to a deal signed in May 2004, Armenia will pay for the gas
with electricity it produces at a Soviet-era nuclear power plant.

Based on the agreement, Iran is supposed to transfer three million
cubic meters of gas per day to Armenia and from the beginning of 2011
will raise this volume to four million cubic meters per day.