Announcement

Collapse
No announcement yet.

WB: Selling Of Hrazdan TPS 5th Energy Unit To Gazprom Is ProfitableF

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • WB: Selling Of Hrazdan TPS 5th Energy Unit To Gazprom Is ProfitableF

    WB: SELLING OF HRAZDAN TPS 5TH ENERGY UNIT TO GAZPROM IS PROFITABLE FOR ARMENIA

    Regnum, Russia
    May 1 2006

    It is a profitable deal for Armenia to sell Hrazdan TPS 5th energy
    unit to Russian Gazprom Company, Director of World Bank Yerevan office
    Roger Robinson is quoted by a REGNUM correspondent as saying it at
    April 28 news conference.

    According to him, the Armenian government is going to hold public
    hearings on the question and to clarify all details of the deal.

    "Holding of public hearings and clarifying details are governmental
    duty," he stressed, adding, that all questions on the deal will
    be exhausted after discussions. Mentioning anxiety about the fact
    that the Russian side becomes monopolist in Armenian power supply
    system, Roger Robinson explained that foreign countries provide
    public services in many countries of the world. In particular,
    several foreign firms guarantees water supply in Great Britain, and
    "there are no bad things in it." "Strong structure is necessary for
    regulation of public services," the WB representative stressed.

    According to him, mainly Russia supplies fuel for electrical energy
    production, in particular, nuclear fuel for Armenian NPP, as well
    as gas. "It is necessary to take into consideration current reality,
    speaking about Armenian power supply system; and it may not be changed
    within several minutes," Roger Robinson concluded.

    It should be stressed, production infrastructure of Hrazdan TPS, except
    for its 5th unit, was handed over to Russia several years ago in the
    framework of Property in Exchange for Debt Program, which envisages
    clearing off of Armenian state debt in the rate of $100 millions
    through assignation of stocks of five enterprises to the Russian
    side. Gazprom Holding and the Armenian government achieved agreement
    on sale of legally independent production infrastructure of Hrazdan
    TPS 5th unit in April 2006. According to the agreement, the unit
    will be sold to ArmRosgazprom for $248.8 millions. Part of the sum -
    $188.8 - will be used to compensate gas tariff difference, because
    the Russian side raised price for the fuel from $56 up to $110 per
    1,000 cubic meters. As it is expected, in future Hrazdan TPS 5th unit
    will become element of Gas in Exchange for Electrical Power scheme,
    to which Iran-Armenia gas pipeline will belong too. According to an
    Armenian-Iranian intergovernmental agreement, Armenia will export 3
    kWt/h of electrical power for every cubic meter of Iranian gas. Iranian
    gas will begin to get into Armenia already in the end of 2006.

    From: Emil Lazarian | Ararat NewsPress
Working...
X