Garzprom is ready to take part in the construction of the Iran-Armenia gas pipeline, vice president Gazprom Public Corporation Alexander Ryazanov stated during a press conference in Moscow. In his words, the company is ready to get engaged in the project with 12% investment recovery annually. A joint Armenian-Russian venture on equal terms should formed for this purpose, Alexander Ryazanov noted. Russia will be represented by Gazprom Public Corporation while Armenia by the Ministry of Energy. According to Ryazanov, the construction will cost $170 million. About 20-30% of this sum is to be out up as the authorized capital stock of the joint venture.