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BARMEK NOT GOING TO PAY COMPLETELY TO AZERENERGY FOR ENERGY SUPPLY

Oil&Gas Materials 29 June 2005 14:38 (UTC +04:00)
BARMEK NOT GOING TO PAY COMPLETELY TO AZERENERGY FOR ENERGY SUPPLY

Barmek Azerbaijan, an operator of the energy distribution networks of Baku and Sumgayit plans to transfer incompletely the funds to the Azerenergy for the energy purchased, Husseyn Arabul, the President of the Barmek Azerbaijan, told journalists on
Wednesday.

According to Arabul, in compliance the contract signed with the government, the government should pay indemnity to subscribers of the first category.

"In accordance with the calculations, the State Company Azersu and Baku Metropoliten Production Association owes 180bn manats ($38.2m), or 15bn manats ($3.18m) a month. We have sent a letter to the Cabinet of Ministers to notify that Barmek Azerbaijan will not repay the funds,” Arabul noted.

Arabul noted that though the company sent over 100 letters in this respect, no concrete resolution has been received.

"Over 3 years of our presence the government only once carried out mutual settlement in the amount of 66bn mantas ($13m). They do not only avoid repaying the indemnity, but demand us to carry out payments that we are to do in 2007-2008," the Barmek Azerbaijan President underlined.

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