Armenia evaluates benefit from signing gas agreement with Russia worth $400 million a year
Armenia would have lost $400 million a year, if it would not signed the gas agreement with Russia, said Armenian Economy Minister Vagram Avanesian in his interview to Armenia TV channel.
During the talks conducted during the visit of Russian President Vladimir Putin to Armenia in December 2013 several agreements were signed. The agreements envisaged cancellation of the gas export duties, which allowed reducing gas price for Armenia to $189 per 1000cub.m.
He said this is important even considering that the prices have been fixed only for five years. “Five years is a very important period,” Minister said.
ArmRosgasprom closed-type JSC is the monopolist of gas distribution and delivery at the Armenian market, which comes through Georgia. At present Gasprom consolidates 100% shares of the company and will buy the remaining 20% for $156 million (at the expense of accumulated debts). The enterprise will be named Gasprom Armenia.—0-
Economics
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