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ARMENIA TO SELL SHARES TO RUSSIAN GAS GIANT
http://asbarez.com/110727/armenia-to-sell-shares-to-russian-gas-giant/
Tuesday, June 18th, 2013
Gazprom
YEREVAN (RFE/RL)-The Armenian government seems ready to sell its
remaining 20 percent share in the domestic gas distribution network
to Gazprom in order to subsidize the recently increased price of
Russian natural gas delivered to Armenia.
The Russian energy giant revealed late on Monday that its chief
executive, Alexey Miller, discussed the matter in Moscow with Armenian
Energy and Natural Resources Minister Armen Movsisian.
"In the course of negotiations the aspects of Russian gas pricing for
Armenian consumers were discussed," Gazprom said in a statement. "The
meeting also looked into the possibility of increasing Gazprom's
stake in ArmRosGazprom (ARG) to 100 per cent."
The announcement came amid Armenian government efforts to secure
funding for subsidizing the Russian gas price, which officially rose
by 50 percent to $270 million per thousand cubic meters in April. A
30 percent subsidy promised by the government has meant that the
price hike will be much less drastic for Armenian households.
Armenian officials have said that Yerevan is seeking a Russian
"grant" to finance the subsidy. But they have given no details of
that arrangement so far.
The Armenian Ministry of Energy and Natural Resources refused to
comment on the Gazprom report on Tuesday. A ministry spokesperson
said that only Movsisian can give relevant explanations.
The government was already rumored last year to have ceded its 20
percent stake in ARG to conceal a secret rise in Russian gas price and
make sure Armenian voters are unaffected by it until the February 2013
presidential election. Government officials dismissed this speculation,
saying that the gas price remains unchanged. However, Armenian customs
data showed that ARG paid considerably more for Russian gas than was
officially reported in 2012.
Opposition lawmakers were quick to criticize the government's apparent
readiness to place ARG under full Russian control. Gazprom currently
owns 80 percent of the gas network.
"This once again shows that our authorities are not capable of
doing anything," said Artsvik Minasian of the Armenian Revolutionary
Federation. "They can declare that we will get a grant but we won't
get it or will cede more state assets in return."
http://asbarez.com/110727/armenia-to-sell-shares-to-russian-gas-giant/
Tuesday, June 18th, 2013
Gazprom
YEREVAN (RFE/RL)-The Armenian government seems ready to sell its
remaining 20 percent share in the domestic gas distribution network
to Gazprom in order to subsidize the recently increased price of
Russian natural gas delivered to Armenia.
The Russian energy giant revealed late on Monday that its chief
executive, Alexey Miller, discussed the matter in Moscow with Armenian
Energy and Natural Resources Minister Armen Movsisian.
"In the course of negotiations the aspects of Russian gas pricing for
Armenian consumers were discussed," Gazprom said in a statement. "The
meeting also looked into the possibility of increasing Gazprom's
stake in ArmRosGazprom (ARG) to 100 per cent."
The announcement came amid Armenian government efforts to secure
funding for subsidizing the Russian gas price, which officially rose
by 50 percent to $270 million per thousand cubic meters in April. A
30 percent subsidy promised by the government has meant that the
price hike will be much less drastic for Armenian households.
Armenian officials have said that Yerevan is seeking a Russian
"grant" to finance the subsidy. But they have given no details of
that arrangement so far.
The Armenian Ministry of Energy and Natural Resources refused to
comment on the Gazprom report on Tuesday. A ministry spokesperson
said that only Movsisian can give relevant explanations.
The government was already rumored last year to have ceded its 20
percent stake in ARG to conceal a secret rise in Russian gas price and
make sure Armenian voters are unaffected by it until the February 2013
presidential election. Government officials dismissed this speculation,
saying that the gas price remains unchanged. However, Armenian customs
data showed that ARG paid considerably more for Russian gas than was
officially reported in 2012.
Opposition lawmakers were quick to criticize the government's apparent
readiness to place ARG under full Russian control. Gazprom currently
owns 80 percent of the gas network.
"This once again shows that our authorities are not capable of
doing anything," said Artsvik Minasian of the Armenian Revolutionary
Federation. "They can declare that we will get a grant but we won't
get it or will cede more state assets in return."