IRAN-ARMENIA GAS PIPELINE: “GAZPROM DOES NOT SAY – NO”

“Gazprom does not say – no” to the prospect of its participation in the project of construction of Iran-Armenia gas pipeline, Chairman of ArmRosGazProm CJSC Karen Karapetian told “Regnum” news agency. In his words, next week the working group of the Russian company intends to pay a recurrent visit to Armenia to get acquainted with the Armenian segment of the route of the pipeline, the construction of which will start by the end of 2004. Karapetian noted that “Gazprom” has finally worked out the business plan for the future investments, which evidences that the company has certain interest towards the project. “The Gazprom decision will ve made after the whole package of investment conditions is ready, the volume of necessary spending, terms and guarantees of returning means are determined,” ArmRosGazProm head noted. It should be reminded that according to the main agreement on the building of the Iran-Armenia gas pipeline, signed in Yerevan this May, the gas pipeline will be commissioned before January 1, 2004. Within 20 years Iran will supply 36 billion cubic meters of natural gas to Armenia and will get electricity in exchange. The project estimated cost is some $200-250 million. In his turn Deputy Chairman of Gazprom company Alexander Ryazanov stated during his stay in Yerevan that $140 million is necessary to implement the project. “The sources of funding are left to be clarified. These can be interstate credits or Gazprom means,” Ryazanov stated.