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Armenia Has No Right To Sell Shares Of ArmRusgasprom And Vorotan Cas

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  • Armenia Has No Right To Sell Shares Of ArmRusgasprom And Vorotan Cas

    ARMENIA HAS NO RIGHT TO SELL SHARES OF ARMRUSGASPROM AND VOROTAN CASCADE WITHOUT PRIVATIZATION - MP

    December 04, 2013 | 18:32

    YEREVAN. - Armenia has no right to sell the shares of ArmRusgasprom
    and the Vorotan cascade without privatization program, MP Artsvik
    Minasyan said.

    He recalled that privatization of the Vorotan cascade of hydro power
    plants was included in the program in early 2000s, but was excluded
    in 2006-2007.

    "Twenty percent of ArmRusgasprom shares have never been included
    in the program. Then, what is the legal basis for Armenia to hold
    negotiations on ArmRusgasprom shares with Gazprom and with Contour
    Global on Vorotan cascade," Minasyan wonders.

    In reply, the Minister of Energy Armen Movsisyan said that the law
    does not prohibit talks on selling state assets, even if they are
    not included in the privatization program

    "It's not about selling but about preliminary agreement. Well, when
    it comes to selling, then we will find legal justification with the
    help of parliament," Minister said.

    http://news.am/eng/news/183913.html

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