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Armenian National Congress calls on the citizens to join the campaign against rising energy costs on May 27

Armenia's simultaneous cooperation with NATO and CSTO creates no problems, a German official says

Orange Foundation continues community development projects in Syunik region

"Rusastanyan 20" and "Rusastanyan 35" Beeline services available for postpaid subscribers

American Congressman: Menace of Terrorism and Radical Islam might Unite Armenians and Azerbaijani

Diplomatic source: Final declaration of Riga summit should be a consensus document that would refer to the views of Armenia and Belarus

"No to Robbery" to hold a motor rally on May 23

Belgian prime minister says Armenian Genocide did happen and no one in Belgium thinks differently about it

VTB Bank (Armenia) offers "Super-rate" offer - conscientious borrowers regain 10% of the loan interest paid

"Eastern Partnership" Declaration Unanimously Adopted with only UN Countries Endorsing the Wording on "Annexation of Crimea"

Latvian FM says Armenia and Azerbaijan can claim visa liberalization with EU, if they meet all the necessary requirements

European Commissioner: Cross-border cooperation between Armenia and Azerbaijan to open up new opportunities for Karabakh conflict settlement

OSCE Planned Monitoring: Azerbaijan fails to lead monitoring mission to frontline

William Lahue: NATO's Cooperation with Partners not Against Russia's Interests

ESCAP Forecasts 0.9% Growth of Armenia's Economy and 4.7% of Inflation

President of Armenia: Nagorno Karabakh has no relation whatsoever to Azerbaijan's territorial integrity

Conditioned by Wording on Artsakh Azerbaijan Refused to Sign "Eastern Partnership" Declaration

Ara Nranyan stresses the need to avoid unreasonable stimulation of import and regressive closure of markets

The Number of Operating Air Carriers in Armenia Decreased from 35 to 27 since the "Open Skies" Policy Implementation

30 people interrogated under case of attempted assassination of Syunik Governor

Edward Sharmazanov: Genocide of Armenians, Pontics and Assyrians is a Disgraceful Page of Human History

Armenian-German Forum has been Launched in Bundestag

Ashot Ghulyan Re-elected as Speaker pf Artsakh Parliament

South Caucasus Railway launches sale of Yerevan-Batumi-Yerevan tickets

Businessman Tigran Karapetyan to Bring Suit against Adviser to Syunik Governor for Slander

Azerbaijan Trying to Hinder the NATO Seminar in Yerevan

Armenian Government Endorsing a Draft Document with Microsoft

German Chancellor says Germany respects Armenia's point-of-view

Human rights defender: To fight tortures of suspects, legislative reform is needed in Armenia

Polish MP says friendly relations with Armenia have always been important to Poland

Oppositionist slams Prosecutor General for concealing Syunik Governor's crimes

Armenian delegation participates in NATO Military Committee meeting in Brussels

European Organizations to Allocate about 8.07 Mln EUR to Armenia for Garbage Collection

Reuters: As Armenia and Belarus refuse to sign up the statement on Crimea, EU diplomats say compromise text would be put to them

Dunja Mijatovic: In Armenia, Azerbaijan, and Belarus freedom of media under threat

Shootings Towards Syunik Governor's Car

On May 21 Serzh Sargsyan Will Leave for Latvia to Participate in the Riga Summit

Armenia among Eurovision finalists

Howard Stevenson: We believe investments like Amulsar will be key to raising the bar

VTB Bank (Armenia) funds construction of Progress Agro greenhouse facility

U.S. Ambassador Marks International Day Against Homophobia

"Ecotomato" Company's New Greenhouse was Opened with Financial Support from VTB Bank (Armenia)

Man Attacked by Syunik Governor's Son Loses His Eye

Newspaper: Armen Ashotyan to be appointed as Secretary of National Security Council

ACBA: A Year with and without Stepan Gishyan

"Stepan Gishyan" Benevolent Fund Set Up Upon the Initiative of ACBA-Credit Agricole Bank

Gagik Tsarukyan's guard pressing Abovyan residents protesting against oligarch's actions

Artyom Asatryan: Implementation of integrated social service system will improve efficiency of community workers

Armenia and Iran to start construction of oil pipeline soon

  • Thursday, November 8, 17:29

The construction of Iran-Armenia oil pipeline will start in the near future, Armenia's Energy and Natural Resources Minister, co-chairman of the Armenian-Iranian  inter-governmental commission, Armen Movsissyan, said today's ceremony on laying the foundation for construction of the Megri Power Plant, in Megri.

To recall, Government of Armenia approved the project of technical maintenance regulations for Tabriz (Iran) - Yeraskh (Armenia) oil products pipeline on April 12. The project "Technical maintenance regulations of the oil products pipeline" was developed to ensure safe delivery, storage and sale of Iranian oil products in Armenia. The construction of the Armenian section of the pipeline will cost $100 million. The Iranian party will invest the given funds and then receive the proceeds from the sale of oil products in Armenia. The two parties are expected to create a JV on parity basis.

By data of the Customs Service of Armenia, in 2011 import of oil products in Armenia fell to 357,661 tons versus 379 thousand tons in 2010. Import of cars in 2011 grew to 24.6 thousand cars versus 17.1 thousand in 2010. Import of oil products fell, as most drivers prefer gas to petrol (around 80% of total) because of the high petrol price. The pipeline will make it possible for Armenia to acquire oil products for the prices of the Persian Gulf states (by $15-$20 lower than the European prices).

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