RUSSIA AND ARMENIA NEGOTIATE POSSIBLE CUT ON NATURAL GAS PRICE, MINISTER SAYS

YEREVAN, March 30. / ARKA /. Armenian and Russian officials still
continue negotiations on a possible revision of the price of natural
gas supplied by Moscow to Armenia, Armenian minister of international
economic integration and reform Vache Gabrielyan said to reporters
today.

"Since I am not directly involved in the negotiations, I can not
say anything specific. I can only say that the talks continue,"
said Gabrielyan.

Reports in Armenia media said earlier citing their sources in the
government that Yerevan had reached an agreement with Russian Gazprom
on cutting the price for Armenia from the current $189 to $165 per one
thousand cubic meters. They said Yerevan seeks the cut in order not to
raise the price for households due to depreciating national currency.

In a newspaper interview Gazprom Armenia CEO Vardan Harutyunyan said
that the company was doing everything possible to avoid an increase
in gas price.

Under Russian-Armenian agreement on gas shipment, the price for
Armenia is set in USD at the exchange rate of 416.56 drams per one USD.

In December 2013, Gazprom signed a contract with Gazprom Armenia on
natural gas supplies in 2014-2018. According to it, Gazprom will
deliver up to 2.5 billion cubic meters of gas every year. The gas
price will be determined by a formula linked to the Russian gas
pricing scheme. ($1 - 471.21 drams).

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