YEREVAN. – A final agreement has not yet been reached with Russia concerning the price of the Russian natural gas being supplied to Armenia and with respect to the subsidizing of this price. 

Armenia’s Energy and Natural Resources Minister Armen Movsisyan noted the abovementioned to news reporters on Wednesday.

“The negotiations are still in process,” he added.

Movsisyan also said Russia had increased the gas price back in April, but an agreement was reached to continue to pay $180 per 1,000 cubic meters, until a final agreement is reached.

As for the subsidy mechanism, the Energy and Natural Resources Minister noted that a grant option is more likely. 

To note, in line with the bulletin which the ArmRusGazprom Company—which is Armenia’s natural gas transport operator—issued, as of July 1, the Russian natural gas will be supplied to Armenia at a price of $270 per 1,000 cubic meters. And the Government of Armenia has announced that 30 percent of this price will be subsidized.