Russia, Armenia Agree Gas Price Deal

Russia and Armenia have agreed on prices for natural gas supplies to Yerevan, Armenian President Serzh Sargsyan said on Wednesday.

“I think we have come to an agreement about pricing for gas supplies. The price should be based on actual market price of gas taking into account … regional tariffs for the Armenian economy to maintain its efficient position,” Sargsyan told reporters after talks with his Russian counterpart Vladimir Putin.

Armenian media reported in early July that Russian gas giant Gazprom would raise prices for gas supplies to Armenia from the current $180 per 1,000 cubic meters to $280 from October 2012 and to $320 from 2013. Armenian Energy and Natural Resources Minister Armen Movsisyan subsequently denied there would be gas price increases.

Gazprom exports its natural gas to Armenia through Georgia via its subsidiary ArmRosgazprom.


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