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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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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