Minister: Armenian government not planning to alienate Yerevan Thermal Power Plant
06.10.2016,
13:44
Armenia’s government is not planning to alienate Yerevan Thermal Power Plant, Ashot Manukyan, the minister of energy infrastructures and natural resources, said Wednesday at a Q&A session in the National Assembly.
YEREVAN, October 6. /ARKA/. Armenia’s government is not planning to alienate Yerevan Thermal Power Plant, Ashot Manukyan, the minister of energy infrastructures and natural resources, said Wednesday at a Q&A session in the National Assembly.
In late summer 2016, Armenian media resources republished reports from the Russian media, according to which the Yerevan Thermal Power Plant owes $52.3 million to Russia’s Gazpom and it seems the government is laying grounds for selling the plant.
Later, the energy ministry explained that the structure of the current debt was presented in details in the loan agreement ‘The Program of Financial recovery of Energy Sector’ signed on May 12, 2016 between the Armenian government and the International Bank for Reconstruction and Development, in accordance with which the World Bank has lent $30 million to Armenia.
A part of the loan will be used for a partial repayment of the Yerevan Thermal Power Plant’s debt to Gazprom-Armenia.
As a result, the Yerevan Thermal Power Plant’s debt has shrunk to $33.8 million.
“The Armenian government has never discussed, is not being discussed and is not planning to alienate the Yerevan Thermal Power Plant for repaying the debt to Gazprom,” Manukyan said adding that the debt had been accumulated because of nonpayment of bills for the natural gas consumed by the plant.
He also said that this is a functioning enterprise that consumes gas and at any moment the size of the debt can change.
The minister stressed that it is planned to repay the debt first of all by cash, though partial repayment by property is being considered now among other way as well.
In particular, he said, alienation of the gas-distributing networks which had been built by using the grants provided under various programs until 2000 and are the Yerevan thermal Power Plant’s property.
“Technical audit has already been carried out and everything is booked,” he said. “As a result, we will get the necessary amount for repaying the debt.”
Manukyan added that if an arrangement is made with Gazprom, then an additional independent audit will be conducted.
Earlier, the energy ministry said that the program of recovery of the Yerevan Thermal Power Plant will be completed by August 2017.
The Yerevan Thermal Power Plant is located about 10 kilometres (6.2 mi) from Yerevan, Armenia. An older, obsolete plant was fueled by natural gas and fuel oil, while the new combined-cycle plant is powered by natural gas and has a capacity of 242 megawatts. It produces a quarter of the country's electricity and is responsible for seasonal electricity swaps with Iran.
The construction of a new modern combined cycle co-generation plan has been carried out by using the $247 million the Japan Bank for International Cooperation had lent for 30 years with a ten-year grace period.
Gazprom Armenia imports and distributes natural gas in Armenia. --0---
In late summer 2016, Armenian media resources republished reports from the Russian media, according to which the Yerevan Thermal Power Plant owes $52.3 million to Russia’s Gazpom and it seems the government is laying grounds for selling the plant.
Later, the energy ministry explained that the structure of the current debt was presented in details in the loan agreement ‘The Program of Financial recovery of Energy Sector’ signed on May 12, 2016 between the Armenian government and the International Bank for Reconstruction and Development, in accordance with which the World Bank has lent $30 million to Armenia.
A part of the loan will be used for a partial repayment of the Yerevan Thermal Power Plant’s debt to Gazprom-Armenia.
As a result, the Yerevan Thermal Power Plant’s debt has shrunk to $33.8 million.
“The Armenian government has never discussed, is not being discussed and is not planning to alienate the Yerevan Thermal Power Plant for repaying the debt to Gazprom,” Manukyan said adding that the debt had been accumulated because of nonpayment of bills for the natural gas consumed by the plant.
He also said that this is a functioning enterprise that consumes gas and at any moment the size of the debt can change.
The minister stressed that it is planned to repay the debt first of all by cash, though partial repayment by property is being considered now among other way as well.
In particular, he said, alienation of the gas-distributing networks which had been built by using the grants provided under various programs until 2000 and are the Yerevan thermal Power Plant’s property.
“Technical audit has already been carried out and everything is booked,” he said. “As a result, we will get the necessary amount for repaying the debt.”
Manukyan added that if an arrangement is made with Gazprom, then an additional independent audit will be conducted.
Earlier, the energy ministry said that the program of recovery of the Yerevan Thermal Power Plant will be completed by August 2017.
The Yerevan Thermal Power Plant is located about 10 kilometres (6.2 mi) from Yerevan, Armenia. An older, obsolete plant was fueled by natural gas and fuel oil, while the new combined-cycle plant is powered by natural gas and has a capacity of 242 megawatts. It produces a quarter of the country's electricity and is responsible for seasonal electricity swaps with Iran.
The construction of a new modern combined cycle co-generation plan has been carried out by using the $247 million the Japan Bank for International Cooperation had lent for 30 years with a ten-year grace period.
Gazprom Armenia imports and distributes natural gas in Armenia. --0---
