168 Zham: Armenia’s gas debt secret comes to light
12:33 – 07.12.13
The paper has published a comprehensive analytical article describing
the “secret” behind Armenia’s $300 million natural gas debt to the
Russian Gazprom.
`It is now becoming clear that Hayrusgazard (Gazprom’s Armenian
affiliate) purchased gas for a higher price but actually paid less. So
it was in debt. According to the SRC’s (State Revenue Committee)
Customs Committee, the price for the Russian gas increased to $240 per
100 cubic meters in mid-2011. And the debt has been growing since
then. The data at hand give hints as to how the debt was generated.
`Some 776.5 million cubic meters of gas were imported in the second
half of 2011. And because the de facto money paid was $180 instead of
$240, there is now an accumulated debt of $46.6 million. But the gas
price was declared unchanged throughout this period.
`The year 2012 was entirely a period of deception. The gas price was
declared $180; so exactly that much was paid, leading to a debt of
$118 million.
`The deception continued until April 2013. In the first quarter of
this year, gas was bought for $240, but only $180 was paid. A debt of
$40 million was accumulated in the first quarter.
`The deception stopped in April. The gas price was declared to have
surged to $270 on the border. But Hayrusgazard apparently keeps paying
$189. The remaining part had to be subsidized by the government. But
it wasn’t in fact. In the second and third quarters of this year, a
debt of $49 million was accumulated.
Hence, the period between April 2011 and September 2013 saw
Hayrusgazard accumulate a debt amounting to $253 million.
If we add to this the amount of gas purchased in October and November
(they have not been made public yet, but will likely be about 350-400
cubic meters considering the previous years’ dynamic), the debt will
turn out to be $290 million, exactly as much as [Minister of Energy
and Natural Resource] Armen Movsisyan had announced.’
Armenian News – Tert.am
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
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