TARIFFS ON GAS TO BE RAISED IN ARMENIA IN MARCH

The tariffs on natural gas in Armenia will be raised beginning with March 1. The decision was taken by the Committee for the regulation of the natural monopolies on the basis of the corresponding claim by Armrosgasprom. At that, the rates will be raised only for those, who consume less than 10 000 cubic meters of gas per month. The price will rise from 55 drams to 59 drams ($1 = 570 drams). For the companies consuming more than 10 000 cubic meters of gas the tariff will remain the same – $79,1 for 1 000 cubic meters. To remind, December 25, Armrosgasprom, the monopolist of the gas supply networks of Armenia, was turned down to raise the gas tariffs. At the same time, the company was obliged to produce the program of investment in the Armenian gas sphere till June 2004. Let us remind that the Armenian ministry of energy and Gasprom Russian company possessing 45% of the shares each are the principal Armrosgasprom’s stockholders. 10% belongs to Itera company.