YEREVAN (Armenpress)–Armenian Energy Minister Armen Movsisian Thursday said government officials from Armenia, Iran and Russia will meet in November to sum up their findings concerning an ambitious idea to build a big oil refinery on the Armenian-Iranian border.
A provisional document was presented lately in Tehran, he said adding, experts will begin putting together a feasibility plan following the November meeting.
A subsidiary of Russia’s state-run Gazprom gas monopoly indicated earlier that it was considering investing an estimated $1.7 billion needed for the construction of the would-be refinery near the Armenian border town of Meghri.
Reports in the Russian press said the facility would have an annual capacity to refine up to 7 million tons of Iranian oil that would be pumped into Armenia through a special pipeline to be built in northwestern Iran.
Petrol produced by the refinery would then be shipped back to Iran by rail. Construction of the 200-kilometer pipeline and the railway would require additional funding.