YEREVAN. – We will not sell Armenia’s Vorotan Hydro Power Plants to subsidize the price of the Russian natural gas, Energy and Natural Resources Minister Armen Movsisyan told news reporters on Wednesday. 

He added that the mechanisms for this subsidy are being discussed.   

“Until the end of the talks with the Russian party, the price of the gas being supplied to Armenia is $180 per 1,000 cubic meters at the border,” the minister stressed. 

To note, the Government of Armenia will provide a 30 percent subsidy to lessen the affect of the forthcoming gas price increase on the country’s residents. In line with estimations, $140 million will be needed for this subsidy by the year’s end. But the government denies that the necessary means will be received on the account of selling Armenia’s energy-producing property.   

As of July 1, the Russian natural gas being supplied to Armenia will cost $270—instead of the today’s $180—per 1,000 cubic meters. The ArmRusGazprom Company will propose to raise the price of gas being supplied to the country’s consumers to 221 drams (approx. $0.53)—instead of the today’s 132 drams (approx. $0.32)—per cubic meter.