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Russia's natural gas supplies to Armenia increased 2.8% year-on-year
Russia's natural gas supplies to Armenia increased 2.8% year-on-year in the first six months of 2008 to 1.1 billion cubic meters, Gazprom's subsidiary in the South Caucasus republic said on Tuesday.

Armenia currently imports natural gas from Russia at a price of $110 per 1,000 cubic meters.

According to ArmRosgazprom, which supplies and distributes Russian natural gas on the Armenian market, the South Caucasus republic consumed 1.009 billion cubic meters of natural gas in the reporting period or 6.2% more than in the same period last year, with 215 million cu m going to the power sector, 360 million cu m to households and 186 million cu m to industry.

ArmRosgazprom was established in 1997 as a joint Russian-Armenian natural gas pipeline venture. The company has charter capital of 278 billion Armenian drams (around $900 million). Its core shareholders are Gazprom (72.16%), the Armenian Ministry of Energy and Natural Resources (22.78%) and Russian oil and gas company Itera (5.06%).


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