Construction of Iran-Armenia oil pipeline to kick off in fallJuly 14, 2010 - 14:01 AMT PanARMENIAN.Net - Armenian Minister of Energy and Natural Resources Armen Movsisyan said that the construction of Iran-Armenia oil pipeline will kick of in fall. The oil pipeline's cost is estimated to total $160-180mln, with the countries to finance 50% each, Movsisyan told journalists on July 14. "There is an agreement with Iran that it will invest in the project implementation, while Armenia will be paying its part upon receipt of dividends," noted Movsisyan. Petrol and diesel fuel will be piped to Armenia. The pipeline construction will allow solving several problems: first, fuel will be purchased by prices of the Persian Gulf that are $15-20 lower as compared with other prices; second, transportation costs will be 3-4 times lower, what is an advantage of this transit as compared with other transportation means (vehicle, railway, etc.)
Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Government reveals details from Pashinyan’s meeting in border village Prime Minister Nikol Pashinyan has met with a group of residents of a border village in Armenia’s northern Tavush province Narek Manasyan wins European Boxing Championships silver for Armenia Armenia’s Narek Manasyan (92kg) won Armenia’s second silver medal at the European Boxing Championships 2024 on April 28. Blinken urges Azerbaijan to continue negotiations with Armenia Secretary of State Antony J. Blinken has urged Azerbaijani President Ilham Aliyev to continue negotiations with Armenia. Pashinyan, Blinken talk Armenia-U.S. ties over the phone Prime Minister Nikol Pashinyan had a phone conversation with US Secretary of State Antony Blinken on April 28, Pashinyan’s office reports. |