Energy Business Review
Dec 5 2013

EBR Staff Writer Published 05 December 2013

Gazprom has started commercial operation of fifth power generating unit
at Hrazdan thermal power plant (TPP), located near Hrazdan, Armenia.

The newly commissioned unit is expected to make it possible to address
the growing power demand in Armenia and neighboring countries.

Gazprom Management Committee chairman Alexey Miller and ArmRosGazprom
director general Vardan Arutyunyan signed a contract for Russian gas
supply to Armenia from 2014 to 2018.

Under the contract, Gazprom will annually supply 2.5 billion cubic
meters to Armenia, with price to be determined by a price formula
linked to the pricing mechanism for natural gas in Russia.

Miller said the company's direct engagement in the Armenian power
market will offer some undoubted advantages to the Republic.

"This includes adequate supplies of natural gas at a fair price,
investment in modern power generating capacities, development of the
power generation sector and creation of new jobs," Miller added.

In addition, Russian Energy Minister Alexander Novak and Armenian
Energy and Natural Resources Minister Armen Movsisyan signed an
intergovernmental sales and purchase agreement for ArmRosgazprom's
shares and its future activities.

The completion of deal will increase Gazprom's stake in ArmRosgazprom
from 80% to 100%.

From: Emil Lazarian | Ararat NewsPress