YEREVAN, NOVEMBER 8, ARMENPRESS. Gazprom Armenia says it is suffering 1 billion drams in damages yearly as a result of the 20% reduction of gas tariffs for socially vulnerable families, Gazprom Armenia Chairman of the Board/CEO Hrant Tadevosyan said at a parliamentary commission.

“The company reduced gas tariffs for socially vulnerable families since August of the current year by another 20%, it is sold for 80 drams instead of 100, or 80,000 drams for 1000 cubic meters. The sale of gas to this given group doesn’t even compensate the procurement price of natural gas. As a result, the company suffers 1 billion drams in damages yearly,” he said.

He said that the average tariff is 255 dollars for 1000 cubic meters.

He said that they have based their calculations on governmental decisions and normative regulations.

Edited and translated by Stepan Kocharyan