Armenia lost alternative opportunity to conduct efficient economic policy from the moment Gazprom became owner of Iran-Armenia gas pipeline

ArmInfo. Armenia lost the alternative opportunity to conduct efficient economic policy from the moment Gazprom became the owner of Iran-Armenia gas pipe for unclear reasons, economist Vahagn Khachatryan expressed this opinion during today's press conference on Armenian economy challenges initiated by the Club of Economic Journalists and Kondard Adenauer Stiftung Company.

According to him, Gazprom still has stand on the market only because Russia solves the problems of the company. The economist explains such situation by non-efficiency of Russia's economic policy, which primarily depends on the prices of fuels. This in turn affects development of economic processes in Armenia.

"Iran-Armenia gas pipeline, which has a diameter of 750 mm was to be constructed till the 5th power unit of Hrazdan. Iranian investments in 240-300 mln USD were to be made in reactivation of the unit. In this case Iran would supply gas to us, in exchange of which, we would export electricity to Iran", the expert stated.

Khachatryan noted that because of the current prices on gas in Armenia greenhouse facilities are also in danger. According to him 80% of these facilities in Armenia are insolvent. He explained that in winter season greenhouse facilities spend too much on gas. As a result the field shows decline. 

According to him, Armenia may receive gas at a price lower than the current one. (120 USD for 1 thousand cubic meters of gas), but the problem according to Khachatrayn is political. "This problem can be solved within EEU. Customs Union does not impose any barriers in this issue, but we should start with the non solved domestic problems", he summarized.

To recall, back in February 2015 Armenian government discussed with the Russian side possibility of making payments for the supplied gas in Russian Rubles. Armenia pays to the Russian side nearly 350-400 mln USD annually for the imported gas. The Russian side announced then that it is ready to fulfill this request partially; in this case Armenia would pay 150-200 mln in USD and the rest part of the sum in Rubles. "Gazprom Armenia" buys Russian gas at a price of 189 USD for 1 thousand cubic meters of gas at the border. The price on gas for the population, which consumes less then 10 thousand cubic meters per month totals 156 thousand AMD for 1 thousand cubic meters of gas, while for the commercial consumers which use more than 10 thousand cubic meters of gas per month the price totals 276.98 USD.