ITERA Postpones Reduction of Gas Delivery

YEREVAN (Armenpress)–At the request of the Armenian government–the management of the ITERA International group of companies postponed the date set forth by the company to reduce the natural gas deliveries from February 1 to February 11.

The company took into account the promise made by the minister of power engineering industry of Armenia to undertake urgent measures to settle the outstanding debts for 2001 as well as for January 2002.

ITERA’s public relations department emphasized that the volume gas supplies would temporarily be maintained at the present level and would be continued only if Armenia pays its outstanding debt.

At the same time the Armenian government’s failure to fulfill its obligations regarding the current outstanding debt paymen’s would relieve ITERA of the necessity to fully implement the agreement to deliver natural gas.

Judging by the fact that Armenia is incapable of fulfilling its obligations through the settlement of commodities–ITERA might guarantee the preservation of the current gas supply volumes only on condition that paymen’s for the natural fuel supplies required by the republic are effected exclusively in monetary form.

Armenia’s debt to ITERA reached $34.6 million.

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