GAZPROMS DELEGATION VISITS ARMENIA

RIA Oreanda
May 20 2008
Russia

Yerevan. ">OREANDA-NEWS . May 20, 2008. Today a Gazprom delegation
headed by Alexey Miller, Chairman of the Management Committee, paid
a working visit to the Republic of Armenia and held a meeting with
Serzh Sarkisyan, Armenian President and Tigran Sarkisyan, Armenian
Prime Minister.

In the course of the meeting the parties noted that the cooperation in
the gas area was very successful and the ArmRosgazprom joint venture
was expanding its operations and was starting to prepare for the
entry into the financial market for the IPO purposes.

The parties discussed matters related to the signing of a new contract
for gas supply to Armenia and reached the accords that the contract
would be a midterm arrangement with a price formula and the switch
to European prices would be implemented just like in Russia in 2011.

At the same time, the gas price will be changed gradually given the
high level of the strategic cooperation and the reinforcement of
Gazproms positions in Armenia due to a bigger stake in ArmRosgazprom.