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Russia´s natural gas supplies to Armenia up 26.5% in 2005

YEREVAN, January 11 (RIA Novosti, Gamlet Matevosyan) – Russia increased its supplies of natural gas to Armenia by 26.5% year-on-year to reach 1.685 billion cubic meters, the Russian-Armenian joint venture, ArmRosgazprom, said in a statement Wednesday.

Shushan Sardaryan, the press secretary of ArmRosgazprom, said the company planned to deliver about 2 billion cubic meters of gas to Armenia from Russia in 2006. He said the volumes would be specified after bilateral talks on a new gas price were concluded.

Before January 1, 2006, Armenia purchased Russian gas at $56 per 1,000 cu m, but Russia has already said that it intends to raise the price to $110 per 1,000 cu m as part of a general strategy to attain market prices in its relations with other states.

ArmRosgazprom has the monopoly right to deliver and distribute natural gas on the Armenian market. The Armenian Energy Ministry holds a 45% stake in the company, as does Russia’s state-run gas giant Gazprom, whereas independent Russian oil and gas company Itera possesses 10%.

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