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Armenian gov't to sell Iranian-Armenian gas pipeline
RBC, 06.04.2006, Moscow 14:35:30.Gazprom and the Armenian government have signed an agreement under which Armrosgazprom is to buy the 40-kilometer section of the Iranian-Armenian gas pipeline under construction and the fifth energy generating unit of the Razdan Thermal Power Plant (Razdan-5) from the republic's government, Gazprom's press service reported. A preliminary purchase agreement is to be signed by April 14 while the transfer of ownership should be completed by January 1, 2007. The Armenian government will also entitle Armrosgazprom to act as the Customer for construction of the second section of the Iranian-Armenian gas pipeline, which is 197 kilometers long. To secure efficient gas conversion into electric power, the parties will join efforts to recover and hook up the Razdan-5 assets under a unified control center, and to launch construction of a gas turbine unit with a capacity of 140 megawatts. Further operation of these facilities will allow decreasing fuel costs related to energy production. The agreement makes provisions for export of the energy generated at Razdan-5. As soon as the deal is completed, Gazprom will obtain qualified majority in Armrosgazprom's authorized capital.
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