Energy

Armenia to pay $180 per one thousand cubic meters of natural gas

YEREVAN, November 19, /ARKA/. Armenian energy and mineral resources minister Armen Movsisyan said today Russia’s Gazprom is set to decrease the price it charges for gas supplied to Armenia. He said the price for Armenia will be $180 as of April 2010, down from the originally planned $200.

The price of Russian gas for Armenia rose from $110 to $154 per one thousand cubic meters in April and was expected to rise to $200. The new price for Armenia, VAT not included, will be $169.5, the minister said.

The minister said negotiations with Gazprom had been over. He also brushed aside reports in some Russian newspapers claiming that Russia reduced the price in return for being granted the right to build a new reactor for

Armenian nuclear power plant. According to the minister, these reports have nothing to do with gas price.

Gazprom is the main supplier of gas to Armenian. It holds 80% in the joint Russian-Armenian ArmRosGazprom venture, Armenia’s national gas operator, the 20% are held by the Armenian government.

Armenia plans to build a new nuclear power plant to replace its aging Metsamor plant. The new plant is supposed to operate at twice the capacity of the older, Soviet-constructed facility, which is 30 kilometers west of the capital, Yerevan. Metsamor currently generates some 40 percent of Armenia's electricity. 

The Armenian government has yet to attract funding for the project that is estimated to cost as much as $5 billion. M.M. -0-






19/11/2009 17:27



Market USD exchange rates
Market EUR exchange rates
Market exchange rates 10/03/2010
Currency Symbol Unit Rate Changes
USA Dollar USD 1 389.94 1.02
Euro EUR 1 529.58 0.88
Russian Rоublе RUR 1 13.12 0.04

Favorable еxchange rates of banks 10/03/2010
Currency Buy Sell
USD 389
"VTB Bank (Armenia)"
ACBA-CREDIT AGRICOLE BANK
Araratbank
Armenian Development Bank
Artsakhbank
Byblos Bank Armenia
ProCreditBank
Prometey Bank
“ArmSwissBank”
392
ACBA-CREDIT AGRICOLE BANK
Ameriabank
Araratbank
Ardshininvestbank
BTA Bank
Conversebank
HSBC Bank Armenia
“ArmSwissBank”
Euro 528
ACBA-CREDIT AGRICOLE BANK
Prometey Bank
534
Ameriabank
RUR 13
ACBA-CREDIT AGRICOLE BANK
Artsakhbank
13.2
ACBA-CREDIT AGRICOLE BANK
Ameriabank
ProCreditBank

Macroeconomics
Indicator Term Figures
economic growth,% 2009-12 85.6
GBP, billion AMD 2009-12 3165.5
inflation, % 2010-01 101.7
Budget deficit (proficit), bln AMD 2009-12 148.3
trade deficit, mln USD 2009-12 -2606.4
foreign trade turnover, mln USD 2009-12 4001.9
foreign trade turnover, % 2009-12 73
Gross External Reserves, mln. USD 2009-12 2003.41
Monetary base, billion AMD 2009-12 511.7
Money supply, billion AMD 2009-12 815

Financial market
Indicator Term Figures
Anual interests on loans
Legal entities in AMD 2010-01 14.8
Legal entities in USD 2010-01 13.5
Individuals in AMD 2010-01 22
Individuals in USD 2010-01 17.6
Anual interests on deposits
Legal entities in AMD 2010-01 6.5
Legal entities in USD 2010-01 5.4
Individuals in AMD 2010-01 9.1
Individuals in USD 2010-01 5.3
Annual profitability
state stock of CBA, % 2008-08 8
fiscal stock of Armenia, % 2010-01 8.8

The percents of the CBA
Indicator Term Figures
Banking rate 2010-03 13
Repo 2010-03 6.5
Credit 2010-03 9.5
Depo 2010-03 3.5



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