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Areximbank-GPB Group staff members visit schools in Armavir region under My Finance Month-2016 project

Armenia's Parliament Vice Speaker: No negotiations are possible unless Azerbaijan stops violating ceasefire

U.S. Congresswoman Loretta Sanchez Calls for Leahy Law Investigation of Azerbaijani Abuses

Bako Sahakyan says Karabakh will cede no land and urges world community to reconsider its attitude towards aggressor

Bako Sahakyan: Karabakh conflict cannot be settled, unless Artsakh in involved in peace talks

Konstantin Kosachev: Turkey's stance on Karabakh encourages of one the sides to the conflict to continue it

Azerbaijan continues violating ceasefire arrangements

Armenian Defense Ministry registers 18 incidents on border with Azerbaijan

SCR: Number of railway casualties in Armenia keeps increasingly growing

Ankara hopes Karabakh conflict will be resolved with due regard for 'sovereignty' of Azerbaijan

Beeline extends functions of My Beeline Armenia application

Nikol Pashinyan: Opposition exaggerates Electoral Code's role in holding fair elections

France-Karabakh Circle of Friendship perplexed by lack of Paris' official reaction to Baku's explicit threats

Nagorno-Karabakh Defense Army presented evidences of rocket bombardment of Mataghis by Azerbaijani armed forces

Central Bank of Armenia approves merger agreement of ProCredit Bank and INECOBANK

Stratfor forecast: Military escalation will continue to be a possibility in Nagorno-Karabakh, with effects that reach far beyond the bounds of the small contested territory

EU supports peaceful resolution of Karabakh conflict, Malena Mard says

Azerbaijan's armed forces fire more than 240 rounds at Karabakh positions and target Mataghis populated area overnight

Armenia's Defense Ministry: Azerbaijan shells at state border with Armenia

U.S. Department of State: We have remained in contact with both governments and we need to see the peace process back up and running as soon as possible

Manvel Sargsyan: Armenia due to reconsider fundamentally its 20-year-long policy towards Russia

Seyran Ohanyan: There will be no new dismissals in Armenia's defense system

Nagorno-Karabakh Defense Army: Adversary's movements noticed on northeastern direction of line of contact

Artsrun Hovhannisyan: Situation in Artsakh is quiet at the moment

Yerevan: The time has come for international community to call Baku to order by using specific measures

Arpine Hovhannisyan: Mihran Poghosyan case is being investigated

Russian foreign ministry: the primary task is to exclude regular outbreak of aggression

Three Armenian servicemen wounded on Line of Contact of Nagorno-Karabakh and Azerbaijani troops

Investigative Committee: Identity of the second killed passenger is established

National Revival: Hermine Naghdalyan's statement is a stab in the back of Artsakh soldier

Communist Party of Russia suggests Vladimir Putin to deploy missiles in Cuba to protect Russia and Armenia

Russia thinks military contacts of Baku and Yerevan may be continued

NKR Defense Army: Baku's reports that Armenian side allegedly uses ammunition banned by international conventions are delirium

Oskanian's party not to demand Serzh Sargsyan's resignation

Stepanakert condemns Baku's attempts to denounce unilaterally the trilateral cease-fire agreement of 12 May 1994

Russian Foreign Ministry: Contribution to search for optimal solutions in Nagorno-Karabakh peace process continued

David Babayan: Politicians who fill their stomachs with caviar or pockets with oil revenues and glorify dictatorships are terrorists too

NKR Defense Ministry calls on Azerbaijan to stop using civilians as human shield

Nikolay Bordyuzha: Flare-up of the Nagorno-Karabakh conflict "will blow up the entire Caucasus"

Armenia's Deputy Minister of Defense and OSCE CiO Personal Representative discuss situation in Karabakh

Azerbaijani armed forces open sporadic fire at state border with Armenia overnight

NKR Defense Army soldier killed, as Azerbaijan intensifies shelling

Hayazn Party demonstration demands from authorities not to make any territorial concessions in Karabakh issue

Armenian lawmaker stresses the need to boycott Turkish goods and to ban import of any Turkish products

Deputy Speaker of Armenian parliament: Holding second referendum on independence of Nagorno-Karabakh is inadmissible for Armenian side

Ankara responds to Lavrov's statement in Yerevan

U.S. Embassy in Armenia offers Armenian authorities assistance to investigate bus incident

Views from Moscow: The author of the "four-day war" in Karabakh is beyond doubt

Armenian President dismisses two generals of Armed Forces

OSCE Representative reiterates call on Armenia authorities to ensure journalists' safety

Regional

Oppositionist: In case of further dedicated work of Parliament's ad-hoc "committee on gas," gas tariff should be reduced in Armenia already in autumn

  • by Nana Martirosyan

  • Tuesday, June 24, 22:19

 In case of further dedicated work of the Parliament's ad- hoc "committee on gas," the gas tariff should be reduced in Armenia already in autumn. Aram Manukyan, Secretary of the Armenian National Congress Faction, a member of the ad-hoc committee, told reporters, Tuesday. 

He said the committee is unveiling more and more facts of the groundless rise of the gas tariff, which demonstrates the impartiality of the committee members. "The committee has collected rather big number of facts that may become a reason for reducing the tariff already this autumn," he said.  In this light, Manukyan said he will continue fighting against the energy blockade Armenia have faced due to the incompetent policy of the authorities. He spotlighted the latest deal on privatization of the Vorotan Cascade of HPPs. According to him, the deal is unlawful. And even if the authorities manage to register all the documents in the way no to arouse any concerns, the low sales price is a reason for concern. "It is necessary to take into account that selling the Vorotan Casacade of HPPs with water reservoirs, they sell 50% of the country's water reserves, which is beyond logic," he said. 
Head of the Public Services Regulatory Commission Robert Nazaryan said the license of the Vorotan Cascade of HPPs will be extended. He said that sales deal is not competed and with the issue of the license that process will be significantly speeded up. 

On 29 January 2014  ContourGlobal and the Government of Armenia announced that they have signed an agreement for ContourGlobal to purchase and modernize the Vorotan Hydro Cascade, a series of three hydroelectric power plants totaling 405 MW on the Vorotan River in southern Armenia, for a purchase price of $180 million USD.

To issue the license (and recognize CountourGlobal as the owner) a closure act is required. However, a provision in the sales contact claims that each of the parties has a right to terminate the deal if it is not completed within 75 calendar days.  However, the Head of the Government Staff - Minister David Haroutiunyan said the parties have extended the deadline for completing the deal to meet the interests of the investor. 
Earlier, Deputy Minister of Energy and Natural Resources Areg Galstyan told reporters that the Government revises some provisions of the contract on sale of Vorotan Cascade of HPPs, but the deal will not be canceled.  He said that there are some technical issues that are being verifies by the parties.  However, he could not say if the American party has already provided the funds under the contract.

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