Russia cuts gas price for Armenia to $150

Russia has reduced the price of natural gas supplied to Armenia to $150 from $165 per 1,000 cubic meters, according to Russian business news agency PRIME.
”The previous price was $165 per 1,000 cubic meters, and now it has been reduced to $150. The negotiations continue. It is not clear yet whether the cut will also be to end consumers` benefit,” Armenian Prime Minister Hovik Abrahamyan said on Thursday after a meeting with his Russian counterpart Dmitry Medvedev in Yerevan.
At this, the Russian prime minister stated that the parties had agreed on gas supplies.
”We have reached an agreement on energy issues, including gas supplies, which is, of course, essential to energy stability of Armenia and the country`s development in general,” Medvedev said.
It is noted that the Armenian authorities in January appealed to the Russian Federation with a request to reduce its price of gas supplies to the country.
Russia lowered the price of gas to Armenia from $189 to $165 per 1,000 cubic meters in September 2015, according to the report.
However, the reduction was not applicable to the gas price for households, which is set at over $320 per 1,000 cubic meters. The price for large corporate consumers is fixed at $272 per 1,000 cubic meters and they pay their bills in the U.S. currency.

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