YEREVAN. – The natural gas prices in Armenia have fallen owing to the outcome of negotiations between Russia and Georgia, Prime Minister Karen Karapetyan of Armenia stated at his press conference on Friday.

In his words, Georgia used to receive 10 percent of the Russian natural gas being supplied to Armenia, and as a transfer fee. But now, it will get this 10 percent starting from the first billion cubic meters. As of the next billion, however, Tbilisi will receive cash money—as a transfer fee, instead of gas, but at a slightly less amount. And, as per Karapetyan, it is on the account of this reduction that the natural gas tariffs were managed to be reduced in Armenia.

“With this money, the Georgian side can acquire gas from any supplier in its sole discretion,” added the Armenian PM. “Theoretically, this could also be the Iranian gas being transferred via Armenia. [But] the market will determine everything. If the [respective] offer is reasonable, they will benefit from it.”