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| 18:12:32 | 10-06-2005 | Social |

GAS WILL BECOME MORE EXPENSIVE

`We must be ready for the liberalization of the prices’, said President of
the `Armrusgasard’ LTD Karen Karapetyan to the journalists during today’s
seminar organized in the Tsakhkadzor `Adigas’ complex.

Referring to the issue of the world gas supplies Karen Karapetyan foresaw
that at this rate they will suffice for another 60 years, `as the demand
rises, buy the supplies do not’. According to the speaker, the rise of the
gas cost is a usual tendency in the CIS countries: for the last 3 years in
Ukraine it has risen for 30%, in Georgia and Azerbaijan – for 15% etc.

`Especially for Armenia which does not have natural gas the people must be
ready for the liberalization of the gas cost’, said the President of
`Armrusgasard’. According to him, the cost of gas in Armenia is conditioned
by the costs in Uzbekistan, Kazakhstan and Turkmenistan. `Despite this fact
we have managed to keep the prices stable for the last 3 years’, mentioned
Mr. Karapetyan. Nevertheless, he does not exclude the possibility of the
rise of gas costs starting form 2007.