RAISE IN GAS PRICE WILL BE KEPT BELOW 15%, ARMENIAN PRESIDENT SAYS

Prime News Agency, Georgia
April 6 2006

Tbilisi. April 06 (Prime-News) – The gas price for consumers will
not increase by more than 10-15%, Noyan Tapan says as quoting Robert
Kocharian, Armenian President.

“We must get used to idea that gas price as low as USD 54 per 1000
m3 does not exist for anyone”, Robert Kocharian said in a televised
address published by the press service of the Office of President.

According to him, they intend to implement an investment project
together with the Russian party, aimed at repair of the 5th generating
unit of the Razdan Heat and Power Plant that would enable the
government of Armenia to generate funds for compensations to the
population for three years.

Besides, construction of the new heat and power plant will soon be
completed that would increase coefficient of efficiency.

“As a result, we will have sufficient energy and its generation will
take less gas. It will enable us to cut consumer price. Therefore,
there are no grounds for anxiety – gas price will not increase by
more than 10-15%”, the Armenian president said.