Gas Project in Armenia

Gas Project in ArmeniaGas Project in Armenia

Iranian company Sanergy is to build a gas distribution network in two Armenian towns in a project financed by the Iranian government, Armenia's energy minister said on Thursday. Levon Iolyan told a government meeting that Iran would resume financing for the project, which was suspended in 2013, and would disburse a $2 million grant, Reuters reported. The project envisages the construction of a gas distribution network in the towns of Megri and Agarak, not far from the border with Iran. Iolyan said construction work, which is expected to start soon and to be completed within 6-7 months, would be monitored by Gazprom Armenia, an Armenian subsidiary of Russia's gas monopoly Gazprom. Iran exports natural gas via pipelines to three neighboring countries, namely Turkey, Armenia and Azerbaijan. Ankara receives more than 90% of Iran’s gas exports under a long-term contract and Yerevan and Baku receive around 6% and 3% of Iran’s natural gas exports, respectively, under swap agreements.