The Minister of Energy and Natural Resources of Armenia, Yervand Zakharyan, met with the Russian Minister of Energy, Alexander Novak.

Novak noted that Armenia-Russia cooperation in the energy sector has gained new impetus since Armenia’s accession into the Eurasian Economic Union—which also comprises Russia, Belarus, Kazakhstan, and most recently, Kyrgyzstan.

During the bilateral meeting, the two ministries also sign a protocol on making changes in the agreement regarding the pricing procedure for the Russian natural gas being supplied to Armenia.

Pursuant to this document, the base price for the gas being supplied to Armenia will reduce from $189 all the way to $165 per 1,000 cubic meters.

The document also defines the basic conditions for the normal operation of Gazprom Armenia CJSC.