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ArmRosgasprom: Currency Variations In Armenia Will Not Bring To Gas

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  • ArmRosgasprom: Currency Variations In Armenia Will Not Bring To Gas

    ARMROSGASPROM: CURRENCY VARIATIONS IN ARMENIA WILL NOT BRING TO GAS PRICE INCREASE

    ARKA
    Feb 26, 2010

    YEREVAN, February 26. /ARKA/. "ArmRosgasprom" will not apply to
    Regulatory Commission of Public Services (RCPS) in case of dollar
    rate change, said Karen Karapetyan, Chairman of the Board and General
    Director of the company.

    Today RCPS reviewed the application of "ArmRosgasprom" and carried
    out decision on the increase of gas prices - current 96 drams will
    increase up to 132 drams for 1 thousand cubic meters. People who use
    more than 10 thousand cubic meters will pay $243.13 for 1 thousand
    cubic meters instead of former $215.

    "ArmRosgasprom" applied for gas price increase as the price of imported
    gas to Armenia will be $180 versus current $154 for 1 thousand cubic
    meters since April 1, 2010.

    The company itself is not intended to change gas prices and make the
    consumers lives unhappy. "We only react to market changes and it's
    not our fault", said Karapetyan.

    "Even if dollar rate will increase instead of current 386 drams up
    to 420 drams or decrease up to 320 for 1 dollar, we will not change
    the price. We want to create business environment for our upcoming
    strategy", he said.

    Some experts expect that in 2010 there will be devaluation in Armenia
    but not as abrupt as in March 2009 when decrease of Armenian dram by
    66.36 points to US dollar was 372.11 drams for 1 dollar.

    "ArmRosgasprom" gives choice opportunity to the consumers - whether
    use gas or other energy resources. "We don't say that our services
    are cheap but they will be cheaper than other services", he said.

    World financial-economic crisis influenced on the reduction of gas
    consumption in Armenia. "We expected market increase by 12% but due
    to crisis it was reduced by 20 %", he said.

    CJSC "ArmRosgasprom" is a monopolist in the internal market of
    Armenia. Gas enters Armenia by transit through Georgia. The company
    was established in 1997. The share of Open JSC "Gasprom" is 80% in
    the charter capital of the company, the share of the Government of
    Armenia is 20%. ($1 - 384.37 drams).

    From: Emil Lazarian | Ararat NewsPress
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