Iran and Armenia have agreed to build a pipeline to carry Iranian oil derivatives to Armenia.
The agreement was reached between Iranian Oil Minister Massoud Mirkazemi and Armenian Minister of Energy and Natural Resources Armen Movsisyan in Tehran on Saturday.
A timeframe has yet to be set on the pipeline from the northwestern city of Tabriz to the Armenian border.
Mirkazemi said the volume of exports of oil products will be finalized in the near future.
He pointed to cheaper energy prices in the Persian Gulf region in comparison to the Mediterranean region as well as the safety of transit as the advantages of the deal for Armenia.
MOSCOW, January 31 (RIA Novosti)
