Monday, March 19, 2007

Iran and Armenia inaugurated the natural gas pipeline

19 March 2007

Officials of Iran Gas Company, Iranian and Armenian contractors and representatives of the two countries' media were among those who attended the ceremony.

Ahmadinejad and Kocharyan are to proceed to the Armenian Customs Office building to sign agreements relative to the supply of Iranian natural gas.

The natural gas pipeline has a total length of 140 kilometers, 100 kilometers of which is in Iranian territory and 40 kilometers in Armenian territory. It will transfer 10 million cubic meters of Iranian natural gas to Armenia per day in its initial phase.

Test operations on the project have been conducted. The project will be ready for delivery to Armenia within the next few months.

The pipeline has an approximate cost of USD 120 million, 85 percent of which was financed by the Export Development Bank of Iran (EDBI) and the remaining 15 percent put up by Yerevan.

The natural gas pipeline was due to be completed in 930 days but construction was fast-tracked due to its importance and the pipeline completed in 650 days.

Inauguration of the gas pipeline will allow transfer of 400 million cubic meters of Iranian gas to Armenia per year during the first phase of the project, this figure later to be increased to 2.5 billion cubic meters per year.

The Armenian president had high praises for Iranian engineers and workers who made this natural gas pipeline a reality. - Islamic Republic News Agency

Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.

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