Reference
In accordance with the draft Agreement between the Government of the Russian Federation and the Government of the Republic of Armenia on the terms of purchase and sale of shares and the further activities of the ArmRosgazprom company, the Armenian side will ensure the conclusion of the agreement between Armenia’s Ministry of Energy and Natural Resources and Russia’s Gazprom on the purchase and sale of ArmRosgazprom shares. According to the agreement, Armenia’s Ministry of Energy and Natural Resources will transfer a stock of ordinary registered shares totalling 20.0007% into the ownership of Gazprom.
Therefore, Gazprom’s stake in ArmRosgazprom will total 100%.
In accordance with the draft Agreement, the Russian Government will guarantee natural gas supplies by Gazprom to Armenia in the volumes necessary for the complete satisfaction of Armenia’s domestic needs on the condition that Armenian commercial entities perform full and timely payments for the delivered natural gas, while taking into consideration the transit of natural gas to Armenia, including the technical condition of gas transportation facilities.
The Armenian Government shall guarantee:
- that the gas supplied from the territory of the Russian Federation to the territory of Armenia will not be exported outside the territory of Armenia;
- full and timely payments by Armenian state-financed consumers for the natural gas supplied by ArmRosgazprom, as well as assistance for full and timely payments by other consumers in Armenia.
In accordance with the draft Agreement, the Armenian Government will offer a number of guarantees, including the exclusive right of ArmRosgazprom to the import of gas intended for Armenian consumers and the unimpeded transfer of payments outside the country in connection with the investments of Gazprom and its branch organisations on the territory of Armenia.
The present agreement is concluded for an indefinite period.