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Armenia started to pay for Russian gas in rubles

Imports of oil & gas cover 77% of Armenia’s energy needs. Current energy policy is focused on developing indigenous energy sources, mainly renewable, and on replacing the country’s main nuclear reactor

Armenia started to pay for Russian gas in rubles

Yerevan, April 15 - Neftegaz.RU. Armenia has begun making payments for Russian gas in rubles, the country's Minister of Economy Vagan Kerobyan told RBC.
He said:
  • As far as I know, the last few payments were made in rubles, but at the appropriate rate
  • The pricing takes place in dollars, but payment is made in rubles
Gazprom's spokesman Sergey Kupriyanov, confirmed to RBC:
  • Indeed, Gazprom's contract for the supply of gas to Armenia allows paying for gas in rubles for several years now, and they use this opportunity
  • We must move towards national currencies
  • There is progress from the Russian side in this direction
Gazprom Armenia, a wholly-owned subsidiary of Gazprom, supplies natural gas to Armenia’s domestic market.
In addition, the company transports, stores, distributes and sells gas, as well as upgrades and expands the gas transmission system and UGS facilities in Armenia.

Although Armenia does not produce any fossil fuels, it manages to cover 24% of energy demand with domestic energy production.
This production (0.67 Mtoe in 2019) comes mostly from nuclear and hydro energy.
In the Caucasus region, Armenia is the only country producing nuclear energy.

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