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Friday, June 30, 2006

Gazprom intending to buy Iran-Armenia pipeline

MOSCOW, June 30 (RIA Novosti) - Gazprom [RTS: GAZP] plans to buy an Iran-Armenia pipeline currently under construction, a deputy chairman of the Russian energy giant said Friday.

"Indeed, we intend to acquire this gas pipeline," Alexander Ryazanov told an annual shareholders' meeting.

He said the pipeline, with a projected annual capacity of 1.2 billion cubic meters, would be commissioned in 2007.

Ryazanov said putting the new facility on stream would help provide more reliable supplies of natural gas to Armenia, which presently receives its gas through Georgia.

"There are problems with the transit of gas to Armenia via Georgia, as Georgia taps some of the gas," he said.

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