(www.arminfo.info) вЂ" Construction of the first 40-km section of Iran-Armenia gas line will be completed on March 17, 2007, Director General of "High-Voltage Power Networks", Saak Abramyan.
According to him, 3 km of pipelines are left to be laid. As S. Abramyan noted, the works are complicated by weather conditions. Upon completion of construction, the gas lines will undergo a pressure test, after which we shall talk about a full commissioning of the first section of gas line that will allow to integrate the gas-transport systems of Armenia and Iran. The first stage envisages a receipt of 450 mln cub m of gas by Armenia per year with its increase within two years to 2,5 bln cub m. for construction of the first section, the Iranian side has extended a credit of $28,2 mln with in interest rate of Libor+2 and the beginning of its repayment within 5 years after putting the gas line into operation, reports Trend.
The share of co- financing by Armenia is 15%. The Project Client is the Armenian "High-Voltage Power Networks" CJSC, the Contractor is the "Sanir" Iranian Company.
To note, the negotiations are presently held about the company to operate the first section of Iran-Armenia gas line. The Russian "Gazprom" has also expressed its interest in the Project. The gas line's construction is a step towards enhancement of safety of Armenia's energy sector, since the Republic will receive an alternative source of a "blue fuel".