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GAZPROM

June 16, 2005

Gazprom’s delegation travels to Armenia

Led by Alexey Miller, Gazprom’s Management Committee Chairman, Gazprom’s delegation has traveled today to Armenia.

In the course of the trip, Alexey Miller met with Robert Kocharyan, President of the Republic of Armenia.

The parties discussed the Armenian gas industry development and Gazprom’s involvement in energy projects in the Republic.

At the same time, the parties pondered on issues relative to higher throughput of the Abovyan UGS facility, potential involvement of Gazprom in the Razdanskaya CHP construction and Iran-Armenia gas pipeline project.

Currently, the Republic of Armenia and Gazprom have come close to seal an agreement for cooperation in the latter project.

The pricing for gas supply to Armenia has become a focus of the meeting, as well. Alexey Miller informed Robert Kocharyan of the situation on other FSU and foreign gas markets as well as of Gazprom’s expense structure for gas deliveries to Armenia.

Reference:

Armenia does not produce gas and the country’s power sector largely depends on gas imports.

Gazprom resumed natural gas deliveries to Armenia in June 2003 and, at present, is the only supplier of gas to the Republic. Gazexport, a Gazprom 100% subsidiary, delivers gas to the Armenian border, where gas is purchased by ArmRosgazprom. Over 2004, Gazprom provided Armenian consumers with 1.33 bcm of natural gas.

The ArmRosgazprom company was incorporated in December 1997. Gazprom, the Armenian Energy Ministry and ITERA own 45%, 45% and 10% of ArmRosgazprom’s stake, respectively.

ArmRosgazprom’s major business is arranging for natural gas deliveries to Armenia. In addition, the company transmits, stores, processes, distributes and sells natural gas as well as upgrades and expands the Armenian gas transmission & underground gas storage systems.

The capacity of the Armenia-situated Abovyan UGS facility averages 85 mln cu m and is projected to be increased to 240 mln cu m.

By constructing the Iran-Armenia gas line, the Armenian Government strives to ensure the national energy safety through the gas supply source diversification (including the elimination of this country’s dependency on gas transit via the Republic of Georgia).

Armenia’s authorities have so far developed an Investment Viability Report for the Iran-Armenia gas line construction and Armenian gas supply network expansion, taking into account the ‘gas-for-electricity’ swaps contracts.

The largest power plant in Armenia, the Razdanskaya CHP has 1,100 MW in capacity, of which up to 800 MW is used during winter peak load times.

In 2003, the CHP was handed over to the Russian Federation as settlement of Armenia’s national debt. To raise funds for the Armenian power sector modernization, the Republican Government declared in 2004 its intentions to sell off the uncompleted fifth 300 MW power block of the Razdanskaya CHP.

DIVISION OF RELATIONS WITH MASS MEDIA

 

 

 

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