Armenia and Iran to discuss oil pipeline construction

Armenia and Iran have agreed on renewing talks on construction of an
oil pipeline, Armenian Minister for Energy and Natural Resources Armen
Movsisyan said, ARKA reports.

The minister explained that the talks were halted due to high oil
prices. Iran abstained from the project.

Movsisyan said earlier this year that the two states had planned for
construction to start in 2011. The project will need two years to be
accomplished. Armenia received about $100 million of investments.

The oil pipeline will have a capacity of 1.5 million tons annually. It
will allow Armenia to import fuel to Yeraskh and then via rail or car
transport.