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

Daily Georgian Times, Georgia
June 21 2006

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.