HAYRUSGAZARD CONFIRMS DOUBLED PRICE FOR RUSSIAN GAS

Armenpress

YEREVAN, MARCH 31, ARMENPRESS: Russian-Armenian Hayrusgazard natural
gas operator has confirmed today that Russia will be selling gas
to Armenia at $110 per one thousand cubic meter. The rise becomes
effective from April 1.

Shushan Sardarian, a spokeswoman for the company, said nevertheless,
Armenian and Russian officials continued talks, but refused to
elaborate. The Armenian energy ministry said executives from Russian
Gazprom were in Yerevan negotiating with Armenian party, but likewise
refused to flesh out.

State regulators have already sanctioned a 50 percent rise in the
cost of gas supplied to individual consumers to become effective from
April 9.