RUSSIA MAY LOSE ARMENIAN FUEL MARKET – ENERGY MINISTRY
Interfax, Russia
Feb 26 2013
Iran is squeezing Russia off the fuel market in Armenia, according to
an Energy Ministry report on mutual fuel-and-energy-complex relations
with counties in the Commonwealth of Independent States that Interfax
has read.
Ministry data indicate that LUKOIL (RTS: LKOH) is supplying fuel to
Armenia from refineries in Bulgaria and Romania. But in Armenia is
being discussed the question of building an oil pipeline connecting
Iran and Armenia, with the plan being for Iranian refineries to supply
fuel and refineries in the Persian Gulf. The Armenian government has
approved the rules for construction, which is to end in 2014. However,
the start of construction was pushed back from last year to this.
“The Armenian market for oil products is not a priority for Russian
companies, primarily because of underdeveloped infrastructure for
effecting deliveries. In light of the last in the project for an
Iranian-Armenian pipeline, this niche will mostly be filled with
deliveries from Iran,” the report says.
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