CONTRACT SIGNED ON EXPORTING ELECTRICITY FROM ARMENIA TO TURKEY

Azeri Press Agency
Sept 10 2008
Azerbaijan

Yerevan – APA. Armenia will start selling electricity to Turkey as
from 2009, Armenia’s Energy and Natural Resources Minister Armen
Movsisyan said, APA reports quoting Novosti-Armenia agency.

He said that representatives of UNIT Company engaged in importation
and distribution of high-voltage electricity in Turkey also attended
the visit of President Abdullah Gul to Yerevan.

"Contract was signed during the visit on exporting electricity from
Armenia to Turkey through Kars. According to the contract, Turkey
will restore all the necessary infrastructures in its territory in
four or five months and begin receiving electricity," he said.

The minister said the volume of electricity to be exported to Turkey
will be 1.5 billion Kwh, later it is planned to reach 3.5 billion Kwh.

"The price for a kilowatt depends on the price of heating energy and
gas. But the price will be economically effective. If the electricity
would have been exported now, the price would have been 5.7 cents
per kilowatt-hour. The contract is successful enough. This is a new
market for Armenia, the agreement will make it available to use our
energy potential maximally," he said.

Armen Movsisyan underlined that the agreement had been reached on
the highest level and did not believe that there would be political
obstacles.