YEREVAN. – A discussion, which was devoted to the matter of raising the price of the Russian natural gas being supplied to Armenia, was held Thursday in the National Assembly.

Energy and Natural Resources Minister Armen Movsisyan informed that, as a result of talks with the Russian side, an agreement was reached, according to which the gas being supplied to Armenia will cost $270—instead of the today’s $180—per 1,000 cubic meters at the border, but, still, this will be the cheapest price in the region. In addition, and with the 30-perrcent subsidy which the Armenian government has announced, the actual price will drop to $189 per 1,000 cubic meters.

The minister also informed that there will be an additional compensation for Armenia’s socially insecure classes, and the gas price will remain the same for them. Movsisyan added that the government is trying to resolve this problem in a way that there would not be an additional burden on the state budget.

In his turn, Chairman Robert Nazaryan of the Public Services Regulatory Commission informed that as a result of the talks with the Russian side, it was decided to set the natural gas price at 156 drams (approx. $0.37) per cubic meter, instead of the today’s 132 drams (approx. $0.32). Nazaryan added that due to this increase in the price of gas, the price for electricity supply will increase by 8 drams and make up 38 drams (approx. $0.09) per kilowatt.