YEREVAN, NOVEMBER 2, ARMENPRESS. Gazprom Armenia presented the main goals and factors of tariff revision for consumers of gas in Armenia, the Press Service of Gazprom Armenia told ARMENPRESS.

The statement of Gazprom Armenia reads:

“Gazprom Armenia CJSC has submitted a tariff revision request for consumers of gas to the Public Services Regulatory Commission of Armenia, aiming at preventing the general decline of gas consumption of the recent years, creating favorable conditions for the stabilization of the natural gas market and growth of consumption volumes, as well as encouraging the expansion of operations of gas consuming companies. The company also took into consideration the following main factors:

1. Decrease of transit price for natural gas in the territory of Georgia

The deadline of the transit agreement of natural gas supplied to Armenia is nearing its end in the end of 2016 and a new agreement must be signed between Armenian natural gas supplier Gazprom Export and “Georgia’s Gas-transportation company”. Taking into consideration this fact, the Government of Armenia initiated talks between Gazprom Armenia, Gazprom Export and the Georgian side, with the aim of possible reduction of transit of natural gas.

1. Expected growth of consumption volumes as result of reduction of gas tariffs for Armenian consumers.
2. Implementation of an optimization program of Gazprom Armenia’s financial expenditures, aimed at decreasing the financial obligations of the company and revision of investment programs.
3. Planned financing from the only shareholder of Gazprom Armenia – Gazprom – aimed at stability of Armenian gas consumption market and boosting growth trends”.