ARMENIA, GAZPROM CO FIND ACCEPTABLE PRICE FOR RUSSIAN GAS
06.04.2006, 06.23

ITAR-TASS, Russia
April 6 2006

YEREVAN, April 6 (Itar-Tass) – Armenia and the Russian Gazprom
Company found an acceptable version of settling the problem of
raising a price for Russian gas, said on Wednesday the country’s
President Robert Kocharyan who visited the ArmRosgazprom Company,
the exclusive supplier of gas to the republic.

According to the president, the Armenian government will approve the
final version for settling this question within two or three days.

True, the president did not divulge particulars of the understanding.

The government will look for means (within the next three years)
to set off the gas price both for population and for the business
community, the president reported. The same time is provided for
completing construction of a power unit in Razdan.

“As a result, we shall have a heat and power station with a very high
economic coefficient. Gas consumption for production of one kW/hr
will be much lower than at the operating stations. As a result, the
tariff policy will be more flexible,” Kocharyan noted. He added that
the rise of domestic prices for gas would not top 10-15 percent.

Starting from this month, Gazprom sells gas to Armenia at 110 US
dollars per 1,000 cubic meters.