The Armenian Ministry of Energy has announced that construction of Iran-Armenia petrol pipeline can start this year.
The 380km pipeline is expected to connect Tabriz (Iran) and Ararat (Armenia) and to help Armenia decrease transport expenses and domestic market prices.
The project will also allow Armenia to improve energy security and become a transit route of oil products to Europe.
The construction estimates $250 million. At that, Iran obliged to cover all expenses on condition Armenia will return the half later.
Cooperation between Armenia and Iran is rapidly developing. Armenia has already received some 7 million cubic meters of gas through the pipeline which was put into operation not long ago. Preparation for a railway construction is underway.
