YEREVAN (ARKA)—The Russian Energy Ministry and the Ministry of Energy and Natural Resources of Armenia signed a protocol today in Moscow amending an agreement on the formation of prices of natural gas supply to Armenia.
The document establishes the legal reduction of the base price of supplies of Russian gas to Armenia from $189 to $165 per 1,000 cubic meters, the Russian Energy Ministry said on Monday.
The document also defines the basic conditions for ensuring proper functioning of Gazprom Armenia, Armenia’s national natural gas distribution company.
Russian Energy Minister Alexander Novak said that Russia is currently the main supplier of oil products to Armenia. About 70,000 tons of oil products have been delivered to the county duty free so far in 2015. Duty free supplies of natural gas to Armenia amounted to more than 1 billion cubic meters. In 2015, Gazprom supplied 886 million cubic meters of gas to Armenia.
Armenia’s national natural gas operator Gazprom Armenia is owned by Russian Gazprom. It deals with transportation and storage of Russian gas to Armenia, its distribution and sale, as well as reconstruction and expansion of gas transmission systems and underground gas storage facilities.