IRAN, ARMENIA TO CONSTRUCT OIL PIPLELINE, TERMINAL

Press TV
Feb 24 2010
Iran

Iran plans to construct an oil pipeline and terminal on its border
with Armenia to increase exports of oil products to the country.

Iran’s Deputy Oil Minister Noureddin Shahnazi-Zadeh said the two sides
agreed on a contract for a 350-km pipeline that carries oil products
to Armenia.

Armenia will receive 70,000 barrels of oil products through the
proposed pipeline, he said.

Shahnazi-Zadeh added that the construction of the joint pipeline
needs a 350-million-dollar investment.

"The construction of the pipeline and oil terminal would increase the
exports of oil products to this northern neighboring country," he said.

Armenia hopes the pipeline help diversify its energy resources.
From: Baghdasarian