Russia to participate in Iran-Armenia oil pipeline

At the end of 2009 Armenia and Iran will start constructing the oil pipeline from the Iranian city of Tavriz to Armenia’s Eraskh. As Minister of Energy of Armenia Armen Movsisian stated Russia will have 10% of this project. Through this pipeline Armenia will receive benzine and fuel.

Initially the project envisaged building an oil refinery in the Armenian city of Megri, but Russia considered this impractical and later Gazprom decided to participate in this project instead. Analysts think that the average annual consumption of oil products by Armenia will not be more than 250,000 tonnes annually.