Armenian parliament ratified the Armenian-Russian intergovernmental agreement, which envisages sale of 20% shares of ArmRosgasprom to Gasprom company.
The deal will allow Gasprom delivering gas to Armenia at the Russian prices, which is $189 per 1,000 cub.m.
According to the conditions of the agreement, the Russian government guarantees Gasprom’s natural gas deliveries to Armenia on conditions of full and timely payment by the Armenian companies.
The Armenian authorities decided to sell 20% shares in ArmRosgasprom closed-type joint stock company (JSC) as repayment of the debt worth $155 million to Gasprom, which was accumulated in 2012.
ArmRosgasprom is a gas supplier to Armenia. Until now Gasprom owned 80% shares of the company and the Armenian government owned the remaining 20% shares. In 2012 Russian natural gas deliveries to Armenia increased by 22.3% and totaled 1,967,200,000 cub.m.—0--
Economics
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The Milli Majlis (Parliament) of Azerbaijan began discussions on Monday regarding the draft state budget for 2025, which projects expenditures of AZN 41.368 billion.
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Azerbaijan’s livestock sector has demonstrated modest growth in domestic production, yet it faces significant challenges as imports of meat and dairy products surge. Recent data from the State Statistics Committee underscores this dichotomy, revealing increases in local output but an even sharper rise in imports, accompanied by persistent price inflation.
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Azerbaijan's agricultural sector faces a critical moment as modest growth in grain production fails to offset a troubling decline in productivity. Data from the State Statistics Committee shows that total grain and legume production grew by 0.7% year-on-year, reaching 3.2 million tons by November 1, 2024. However, this growth is overshadowed by a sharp 6.2% drop in yield, highlighting structural inefficiencies in the sector.
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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