The price of Russian gas for Armenia has been fixed for ten years

At a meeting on November 24, the Armenian government approved a change to the agreement on ArmRosgazprom CJSC (formerly Gazprom-Armenia, a 100% subsidiary of the Gazprom holding of the Russian Federation), as a result of which there will be no tariff for natural gas supplied to the republic from Russia change within ten years.

By the government's decision, an amendment was made to the protocol dated July 18, 2022, to the agreement dated December 2, 2013, between the governments of Armenia and Russia on the sale and purchase of shares of ArmRosgazprom CJSC and the conditions for its further activities. The document confirms the debt of Yerevan Thermal Power Plant CJSC to Gazprom Armenia CJSC, and Transgaz CJSC determines the frequency of its repayment.

It is also established that $34.79 million annually paid to the Russian side is included in the tariff of the Hrazdan TPP. Of this amount, $31.79 million is used to ensure the return on investment, $3 million - for the current operation and maintenance costs of the 5th power unit of the Hrazdan TPP.

It is noted that the implementation of the conditions stipulated by the protocol will contribute to the restart of the 5th power unit of the Hrazdan TPP (which is currently operating with underload) and will also create an opportunity to secure a stable price for natural gas supplied from Russia to Armenia for ten years.

Armenia and the Sverdlovsk region of Russia outline areas of economic cooperation

On November 23, Minister of Economy of Armenia Vahan Kerobyan received in Yerevan a delegation of the Sverdlovsk region of Russia headed by Dmitriy Ionin. The delegation included representatives of the public and private sectors of the region.

During the meeting, the parties discussed new opportunities for cooperation and strengthening business ties in various areas of the economy in agricultural processing, construction, energy, forestry, medical instrumentation, information technologies, and other areas.

The meeting was also attended by Anna Donchenko, the Russian Trade Attaché in Armenia, Arman Khojoyan, and Armen Arzumanyan, the Deputy Ministers of the Economy of Armenia.

Armenia's GDP for the third quarter of 2022 increased by 14.8% to about 2.4 trillion AMD

According to preliminary data, Armenia's GDP in the third quarter of 2022 registered an increase of 14.8% compared to the same period in 2021. Such data are published on the National Statistical Committee of Armenia website.

According to the report, according to the results of the third quarter of this year, compared to the same period in 2021, the areas of information and communication grew the most (59.2%), financial and insurance activities (57.3%), as well as transportation and warehousing (41.3%).

The highest rates were recorded in the following industries: wholesale and retail trade; car and motorcycle repair (20%); construction (19.9%); manufacturing (18%); administration and related activities (16.2%); and accommodation and catering (12.8%).

Professional, scientific, and technical activities (up 10.7%), culture, entertainment, and recreation (up 7.8%), water supply and sanitation (up 6.3%), real estate activities (up 5%), public administration and security (up 4.6%), mining and open pit operations (up 2.4%), supply of electricity, gas, steam, and quality air (up 1.2%), and education (up 5%) are among the areas that showed growth compared to the same period in 2021.

The biggest decline, 7.2%, was registered in the health care and social services for the population. A decrease was also observed in household activities as employers accounted for 4.1% and agriculture, forestry, and fisheries for 0.1%.