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Government considers moves to improve 'financial state' of energy system
ECONOMY | 24.07.14 | 17:30
http://armenianow.com/economy/56357/armenia_nairit2_government_meeting
Photolure
By SARA KHOJOYAN
ArmeniaNow reporter
The Armenian government wants to hand over the shares of Nairit and
Nairit-2 companies instead of debts to the Ministry of Finance and
Vorotan HPP CJSC. Thus, the executive tries to improve the financial
state of the energy system.
These two companies, together with other 11, are part of Armgazprom
CJSC since 1998, the latter has accumulated debts and some assets of
the company will cover them - by handing property rights of 46.73
percent share of Nairit-2 CJSC to the government and 53.27 percent
share - to Vorotan HPP CJSC.
Besides, upon the planned changes, the Tegh-Stepanakert gas pipe will
be handed over to the "Staff of the Ministry of Energy and Natural
Resources" state administrative institution.
The executive, however, did not hurry to approve this plan at the
sitting today as Prime Minister Hovik Abrahamyan ordered to discuss
the suggestion for two-three days before arriving at a decision.
If the decision is final the government will be able to nullify the
debt of 8.5 billion AMD (about $20.7 million) of ArmRosgazprom that
was handed to Russian Gazprom.
Analysts think that if the deal succeeds Nairit liabilities will be
handed to Vorotan HPP CJSC which has been purchased by American Global
Contour Company (the deal is not completed yet though).
It is interesting that Gazprom is ready to give up the
Tegh-Stepanakert gas pipe which will mean that Nagorno-Karabakh can
get rid of dependence on Russia in terms of natural gas.
ECONOMY | 24.07.14 | 17:30
http://armenianow.com/economy/56357/armenia_nairit2_government_meeting
Photolure
By SARA KHOJOYAN
ArmeniaNow reporter
The Armenian government wants to hand over the shares of Nairit and
Nairit-2 companies instead of debts to the Ministry of Finance and
Vorotan HPP CJSC. Thus, the executive tries to improve the financial
state of the energy system.
These two companies, together with other 11, are part of Armgazprom
CJSC since 1998, the latter has accumulated debts and some assets of
the company will cover them - by handing property rights of 46.73
percent share of Nairit-2 CJSC to the government and 53.27 percent
share - to Vorotan HPP CJSC.
Besides, upon the planned changes, the Tegh-Stepanakert gas pipe will
be handed over to the "Staff of the Ministry of Energy and Natural
Resources" state administrative institution.
The executive, however, did not hurry to approve this plan at the
sitting today as Prime Minister Hovik Abrahamyan ordered to discuss
the suggestion for two-three days before arriving at a decision.
If the decision is final the government will be able to nullify the
debt of 8.5 billion AMD (about $20.7 million) of ArmRosgazprom that
was handed to Russian Gazprom.
Analysts think that if the deal succeeds Nairit liabilities will be
handed to Vorotan HPP CJSC which has been purchased by American Global
Contour Company (the deal is not completed yet though).
It is interesting that Gazprom is ready to give up the
Tegh-Stepanakert gas pipe which will mean that Nagorno-Karabakh can
get rid of dependence on Russia in terms of natural gas.