Gas prices to remain unchanged for consumers in Armenia – minister

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Economy

13.05.2015, 15:16

Gas prices will remain unchanged for consumers in Armenia, the country’s minister of energy and natural resources Yervand Zakharyan told a press conference on Wednesday.

Gas prices to remain unchanged for consumers in Armenia – minister

YEREVAN, May 13. /ARKA/. Gas prices will remain unchanged for consumers in Armenia, the country’s minister of energy and natural resources Yervand Zakharyan told a press conference on Wednesday.

The Russian gas price at the border was brought $25 down for Armenia after long negotiations, but the reduction will not have impact on consumers in Armenia, the minister said.

The price of the Russian gas supplied to Armenia will be reduced from the current $190 down to $165 per 1,000 cubic meters, as per the agreement reached between chairman of Gazprom board of directors Aleksey Miller and Armenia’s president Serzh Sargsyan in Yerevan in April. The agreement is still to be arranged in writing.

The minister said the extra funds will be spent to make up for dollar versus ruble rate differences and to implement investment programs. Gazprom Armenia, 100% owned by Russian Gazprom, deals with gas supplies to Armenia. The company is also engaged in transportation, storage, distribution and sale of natural gas, reconstruction and expansion of the gas transmission system and underground gas storage facilities.

In December 2013, Gazprom signed a contract with Gazprom Armenia on natural gas supplies in 2014-2018. According to it, Gazprom will deliver up to 2.5 billion cubic meters of gas every year. The gas price will be determined by a formula linked to the Russian gas pricing scheme. –0--

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