Armenia and Iran plan to start construction of oil pipeline in near future: Minister

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08.11.2012, 17:30

Armenia and Iran plan to get down to construction of an oil pipeline in the near future, Armenian energy and natural resources minister Armen Movsisyan said today during a ground breaking ceremony launching the construction of a hydraulic power plant in the southern Meghri on the Iranian border.

Armenia and Iran plan to start construction of oil pipeline in near future: Minister

MEGHRI, November 8. / ARKA /. Armenia and Iran plan to get down to construction of an oil pipeline in the near future, Armenian energy and natural resources minister Armen Movsisyan said today during a ground breaking ceremony launching the construction of a hydraulic power plant in the southern Meghri on the Iranian border.

The ceremony was attended by President of Armenia Serzh Sargsyan and Iranian Energy Minister Majid Namjou.

Movsisyan said the construction of the oil pipeline is part of a strategy to boost bilateral economic ties. According to him, he and his Iranian counterpart will be consistent in pressing for the launch of this project as soon as possible.

The construction of Iran-Armenia oil pipeline was planned to begin in 2011 and be completed in 2014. It will bring to Armenia gasoline and diesel not only from Iranian refineries, but also from the Persian Gulf. The oil products will be shipped to Iranian Tabriz and from there to Armenian town of Yeraskh, where a terminal will be built.

This will allow the Armenian side to buy oil products at much lower prices from the Persian Gulf market than in Europe, as well as significantly reduce transportation costs. -0-

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