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Russia Boosts Gas Supplies To Armenia 3% To 1.1 Bln Cu M In 1H08

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  • Russia Boosts Gas Supplies To Armenia 3% To 1.1 Bln Cu M In 1H08

    RUSSIA BOOSTS GAS SUPPLIES TO ARMENIA 3% TO 1.1 BLN CU M IN 1H08

    RIA Novosti
    13:39 | 29/ 07/ 2008

    Russia's natural gas supplies to Armenia increased 2.8% year-on-year
    in the first six months of 2008 to 1.1 billion cubic meters, Gazprom's
    subsidiary in the South Caucasus republic said on Tuesday.

    Armenia currently imports natural gas from Russia at a price of $110
    per 1,000 cubic meters.

    According to ArmRosgazprom, which supplies and distributes Russian
    natural gas on the Armenian market, the South Caucasus republic
    consumed 1.009 billion cubic meters of natural gas in the reporting
    period or 6.2% more than in the same period last year, with 215 million
    cu m going to the power sector, 360 million cu m to households and
    186 million cu m to industry.

    ArmRosgazprom was established in 1997 as a joint Russian-Armenian
    natural gas pipeline venture. The company has charter capital of 278
    billion Armenian drams (around $900 million). Its core shareholders
    are Gazprom (72.16%), the Armenian Ministry of Energy and Natural
    Resources (22.78%) and Russian oil and gas company Itera (5.06%).
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