Gas price in Armenia pegged to Russia’s domestic prices – Serzh Sargsyan


Armenian President Serzh Sargsyan visited Armenia’s Ministry of Energy and Natural Resources on Friday.

He held a meeting with the ministry staff and dwelt on the price of Russian gas for Armenia.

Armenia’s leader said in particular:

“Any optimal decision is only half of the work. Of course, the decision on the construction of a new nuclear power unit is very good, but it is only half of the work. We should be able to provide timely and competent explanations for this decision for the people to realize the significance of the decision. I can cite an example. We all, I too, all our citizens are concerned over the gas price. But, fortunately, no one is now speaking of the gas price that is envisaged by the agreement with Gazprom. Why? Because it is the lowest price Russia has set for a country. Secondly, people have realized that, under the agreement, this price will be in effect for five years. And it is pegged to Russia’s domestic prices, which are not expected to show a dramatic rise or will show the highest annual rise of 5%. Of course, it is not desirable. On the other hand, it is not what used to be. Moreover, not only our fellow-citizens, but also foreign businessmen are well aware of this. Seeing the predictability and the gas price, they think of starting up businesses in Armenia. And we have some examples. They even think they can export their products to the other Customs Union member-states without any hindrances.”


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