khosq.com

Armenia’s Minister of Energy and Natural Resources, Armen Moffsissian, is renowned for his tremendous successes in developing Armenia’s energy security and domestic generating capability and the local press is always eager to electrify Armenia with his latest sensational achievements.

Through the recent Parliamentary and Presidential elections, Moffsissian and his Russian friends have financed and built at least one 100 Million Ton Oil Refinery on the Iranian – Armenian border, large enough to supply the entire Caucuses and Middle East with tens of millions of tons of Gasoline, Diesel and Heating Oil. The project was apparently abandoned whilst under construction, to be replaced by a more modest 5 Million Ton facility outside Yerevan, at a cost of 2 to 3 Billion Dollars. His Russian partners eventually announced their withdrawal from the projects, which were left not so high and decidedly dry.

Other such Moffsissian sensations have included not one, but two new hydro-power electricity generating stations queuing up to be built on the River Araks; a new 1,000 Megawatt Nuclear Power Station to cover all Armenia’s electricity needs, including for export; and not forgetting the Nabucco Gas Pipeline soon to grace the Armenian landscape, to provide Europe with a gas supply independent of Russian influence?

According to Moffsissian the pipelines to deliver Iranian oil to the new refineries have all but been built. But they suddenly became pipelines to deliver gasoline and diesel to Armenia, from an Iran which itself imports half its fuel products and which has a constant problem with gasoline and diesel shortages. Then suddenly, without a blink of either of Moffsissian’s energetic eyes, those two pipelines again became one, but not to deliver gasoline, or diesel, or Iranian oil to a 100 million ton oil refinery on the Iranian – Armenian border, or to a 5 million ton oil refinery near to Yerevan.

Moffsissian is not so keen to publicise this latest energy sector success presently under construction, and Armenia’s state-backed press also seems somewhat reluctant to cover the project. That is probably because this state-financed pipeline is to deliver Iranian oil to a new mini (up to 1 million ton) refinery presently being built on the site of the formerly state-owned fuel depot near the town of Ararat. The fifty plus million dollar refinery belongs to Armenia’s fuel monopolist, the most honourable Serzh Sargsyan, probably using some of the $189 million he manipulated through his Ministry of Defence accounts, to pay a second time for HyRusGasArt’s recently completed $200 million Iranian 700 mm diameter gas pipeline – which in the first place cost nearly $1,500 per meter!

Moffsissian no doubt realizes that the people of Armenia would find it hard to understand why they are again being obliged to pay for commercial regime activities; this time a meagre $200 million for an oil pipeline, so that Serzh and his cronies can make even greater profits by producing their own gasoline and diesel at their new mini refinery; to tighten their grips on their monopolistic businesses and over the people of Armenia.

The World Bank and the IMF will as usual be watching how every cent of these public funds are stolen and spent on this highly corrupt activity, and will no doubt again be hailing yet more impressive Foreign Direct Investment (FDI) for Armenia.

Still Blowing the World Bank Whistle in Washington in an attempt to curb corruption in Armenia.