Armenian side to allocate USD 100 million to Iran –Armenia pipeline constructionFebruary 15, 2011 - 18:15 AMT PanARMENIAN.Net - Iran-Armenia oil pipeline construction, scheduled to be completed in 2014, will allow Armenia to export oil products both from Iran and the Persian Gulf, a major market for petroleum products, according to Armenian Minister of Energy and Natural Resources. As Armen Movsisyan stated at February 15 news conference, Persian Gulf market prices significantly differ from those at Mediterranean Sea, which will enable Armenia to dramatically decrease transportation expenses. Construction of Armenia-Iran pipeline will be funded on both sides, with Armenia allocating USD 100 million to the project. Pipeline operation contract will be concluded for the period of 25 years. As the Minister stated, Armenia’s internal need for oil products comprises 400 thousand ton a year. 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 | EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. Mkhitaryan raises arrest of former Karabakh leaders in Azerbaijan Inter Milan star Henrikh Mkhitaryan has shared a news story about the extension of the arrest of former Karabakh leaders. Ucom Celebrates Telecommunication Day May 17 commemorates the founding of the International Telecommunication Union on May 17, 1865. |