Armenia gas tariff to remain unchanged after deal with Russia (updated)

Armenia gas tariff to remain unchanged after deal with Russia (updated)

PanARMENIAN.Net - Gas tariffs in Armenia will remain unchanged following the signing of an Armenian-Russian deal Tuesday, December 2, the chief of presidential staff said.

As Vigen Sargsyan told journalists, the deal, envisaging sale of 20% of the ArmRosGazprom CJSC authorized capital to Russia’s RosGazprom, will ensure stability for gas price in Armenia for the next 5 years.

The move was made to “compensate the difference between the gas price at the border and that offered to consumers,” Panorama.am quoted him as saying.

Earlier, the head of the Republican Party of Armenia faction said that gas tariffs will be lowered following the sale of 20% of ArmRosGazpom stocks to Russia’s RosGazprom.

As Galust Sahakyan told journalists, the deal offers certain benefits, with special work groups currently in charge of the issue. Asked what the funds gained from the sale of the stocks will be spent on, the MP said that the move merely provides a chance for Armenian consumers to use gas at Russian prices, according to Armenia Today.

12 bilateral agreements were singed during Russian President Vladimir Putin’s visit to Armenia, including a deal on forming the price for Russian gas supplies to Armenia and transfer of the remaining 20% of the ArmRosGazprom CJSC authorized capital to Russia’s RosGazprom.

The deals inked also covered cooperation in nuclear security provision and supply of annual 2,5 billion cubic meters of gas in 2014-2018. As Putin noted in this context, the Russia-supplied gas will be priced at $189 per 1000 cubic meters, with Moscow to offer a number of discounts before Armenia’s accession to the Customs Union, including cancellation of a 30% export duty for oil and oil products.

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