YEREVAN. – Russia will extend the lower natural gas price—$165, instead of $189, per 1,000 cubic meters—for Armenia, until the end of March.

The respective draft of the Armenian-Russian intergovernmental protocol was approved at Thursday’s Cabinet meeting of the Armenian government.

The written justification attached to this draft notes that the signing of this protocol will contribute to mutually beneficial cooperation, the creation of favorable conditions for the development of economic ties, and the increasing of business activity between the two countries.

As previously, this decision is adopted to compensate for the losses of Gazprom Armenia, and to maintain the gas prices in the country at the previous level.