INCREASE OF GAS PRICE FOR ARMENIAN CONSUMERS WILL NOT EXCEED 10-15%

PanARMENIAN.Net
06.04.2006 20:09 GMT+04:00

/PanARMENIAN.Net/ After a working meeting at ArmRosGazprom Armenian
President Robert Kocharian stated, “along with Russia Armenia is
going to implement a large investment program to modernize the 5th
energy block of the Hrazdan thermal plant.”

“Within past 2-3 months we actively worked with Russia to find
solutions to mitigate increase of gas prices,” the Armenian leader
said. Beginning on April 1 ArmRosGazprom buys Russian gas as $110
for 1 thousand cubic meters instead of the previous $54.

“I think we found a decision, the Government is charged to formulate
the final decision in the coming few days. Along with Russia Armenia
is going to implement a large investment program to modernize the 5th
energy block of the Hrazdan thermal plant. Thus the Armenian Government
will acquire funds to compensate for the rise in the gas price in
the coming three years both for the population and business. By
implementing the program we will get electric power, using less
gas,” the Armenian President said. “The population need not worry,
the increase of the gas price for consumers will not exceed 10-15%,”
Kocharian said.

The Armenian President indicated the importance of modernization of
Abovyan underground gas-holder. “If we increase the capacity of the
gas-holder 2-3 times, we will be protected against any surprises,”
Robert Kocharian remarked, Mediamax reports.