YEREVAN. – Energy and Natural Resources Minister of Armenia, Armen Movsisyan, spoke with Tert.am.

Movsisyan commented on the recent interview with second President Robert Kocharyan, who had spoken about the Russian natural gas being supplied to Armenia. Below is an excerpt from Movsisyan’s interview. 

Robert Kocharyan accused the incumbent authorities of concealing the real price of gas and, as a result, accruing debts. How would you respond to this accusation?

“We have announced, ever since 2010, that negotiations are underway with [the Russian energy giant] Gazprom [Company]. The negotiations lasted for about three years and in the meantime, [and] due to the difference in prices, around $300 million in debts accrued. But the Armenian party agreed to the Russian party’s proposal to pay about half of the debt. This deal is in the best interests of our country and it is developed very well, and it will give life to numerous initiatives. 

Robert Kocharyan had reflected on the sale of the [Armenian government’s] 20-percent shares in [the] ArmRusGazprom [Company]. How would you comment on his view?   

“The Armenian government, Gazprom, and [the Russian] Itera [Company] were the founders of ArmRusGazprom. The total investment [to Armenia] by Gazprom amounted to around $550 million. Moreover, $250 million were directed at subsidizing the [price of] gas for Armenia’s consumers, compensating for the difference in the prices on the purchase of gas at Armenia’s border. By 2006, Gazprom had already bought Itera’s shares [in ArmRusGazprom]. Gazprom’s representation formed an absolute majority at the company’s board of directors, and such a situation made it impossible for the Armenian party to have an impact on the decisions made by Gazprom, and this fits within the framework of the business logic.”