GAZPROM DOUBLES ARMENIA GAS PRICE

United Press International
April 6 2006

MOSCOW, April 6 (UPI) — Russia’s Gazprom has doubled the amount it
charges Armenia for gas.

The rate is being increased from $56 per 1,000 cu.m to $110 dollars
per 1,000 cu.m. until 2009.

Gazprom has raised the price of gas for several former Soviet
republics, including Ukraine and Moldova, which paid less than the
market rate. Gazprom says the increased price reflect the market
value of gas.

In Moscow, Armenian Foreign Minister Vardan Oskanyan said the increase
may have political consequences in his country.

“The increase in the price of Russian gas in Ukraine has had political
consequences,” he said. “I think this is also possible in our country.”

A standoff between state-owned Gazprom and Ukraine early this year
resulted in the company turning off the taps to Ukraine, affecting
supplies to the rest of Europe, too.

Russia is Europe’s top provider of gas.