The Armenian City of Yeraskh will be the receiving terminal of the pipeline running between the two neighboring countries.
According to IRNA, the 300-kilometer pipeline will run from Iran’s northwestern city of Tabriz to Yeraskh to deliver the petrol and diesel fuel from the oil refinery in Tabriz to Armenia.
Movsisyan estimated that the pipeline would be completed in two years and would cost $200-240 million with each country covering half of the cost.
“In order to secure the country’s needed energy, we intend to increase the number of our suppliers,” Movsisyan continued.
The two countries constructed a linking gas pipeline in 2007 and agreed to transfer 36 million cubic meters of gas to Armenia within 20 years and in return Iran will receive 3.3 billion kilowatts of energy from Armenia.
Armenia and Iran enjoy cultural and historical ties dating back thousands of years. There are no border disputes between the two countries and the Christian Armenian minority in Iran enjoys official recognition.
NK/MRK
END
MNA
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