VIENNA, July 22 (Itar-Tass) – Iran has begun building a 140 kilometers-long gas pipeline to Armenia, OPEC sources said here Thursday quoting the Armenian ambassador to Teheran, Gegam Garibjanian.
The cost of which stands at around 120 million U.S. dollars, they said.
The two countries signed an agreement on the project in May, when the Iranian oil minister, Bijan Namdar Zanganeh, visited Yerevan.
Under its provisions, Iran will be supplying 36 billion cubic meters of natural gas to Armenia annually from 2007 through to 2027.
OPEC sources also indicated that in the future the pipeline might be used to ship Iranian gas to Georgia, Ukraine and farther on to Europe.
To make the whole scheme possible, a 550 kilometers-long section of the pipeline will laid at the floor of the Black Sea, stretching half-latitudinally from the Georgian port of Supsa to Feodosiya in the Crimea, the sources said, adding that the its projected cost was in the neighborhood of 5 billion U.S. dollars.
Forecasts suggest that once the project is implemented, the Iranian gas supplies to Europe may reach 60 billion cubic meters a year, and Ukrainian imports will likely account for 10 billion cubic meters out of that amount.
A decision on whether or not to extend the initial 140 kilometers of the pipeline must be taken in Yerevan, the sources said.
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