Armenian Prime Minister Hovik Abrahamyan and Russian Prime Minister Dmitry Medvedev agreed new tariffs on the Russian natural gas supplied to Armenia, Abrahamyan said on Thursday after completion of talks.

“We thoroughly discussed reduction of prices for supplies of Russian natural gas to Armenia,” Abrahamyan said. An agreement reached “was fixed by signing the relevant document,” he added.

“We agreed energy issues, including natural gas supply, which is definitely critical to ensure stable energy consumption in Armenia and normal development of the Republic of Armenia on the whole,” Russian Prime Minister said in his turn.

The natural gas price for Armenia will be reduced from $165 to $150 per 1,000 cubic meters in the first quarter of 2016.