Russia Armenia to Reach Natural Gas Agreement

YEREVAN (Hayots Ashkhar)–In addition to the so-called grand agreement–to be signed during Levon Ter-Petrosyan’s visit to Moscow–it is expected that an agreement regarding the creation of a joint Armenia-Russia venture on transportation of Russian gas to Armenia will also be reached.

According to Russian sources–by 1999 the supply of natural gas will reach 3 billion cubic meters per annum. This figure will triple by the year 2003. Fifty-five percent of the profit made by the joint venture will be forwarded to the Russian side–and 45 percent to Armenia.

Currently Russia doesn’t supply natural gas to Armenia–which exports 1.8 billion cubic meters of gas from Turkmen’stan.

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