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%).