Armenia oil imports down by 8%, gas imports up by 5% in 2015

PanARMENIAN.Net - Armenia cut import of oil and oil products in 2015, building up natural gas imports instead, the country's customs service reported on Tuesday, April 19, ARKA says.

According to the report, 297,900 tons of oil and oil products, worth $213.4 million were brought to Armenia in 2015, while in 2014 the country imported 325,000 tons, worth $323.1 million (8.3% and 34% decline respectively).

Russia's oil and oil products dominate Armenia's oil imports, accounting for 73% or 217,600 tons, worth $149.6 million in 2015, showing 30% and 2.6% decline respectively.

Armenia also imported 2 626.1 million cubic meters of natural gas, worth $514.31 million in 2015, while in 2014 it imported 2 493.1 million cubic meters, worth $499 million (5.3% and 3% growth, respectively).

Armenia's key natural gas importer is Russia, with an 82.2% share or 2 160.1 million cubic meters worth $426.3 million (0.09% decline and 2.38% growth, respectively).