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Russia doubles gas price for Armenia

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A Russian-Armenian joint venture, ArmRosgazprom, which is owned by the Armenian Energy Ministry (45%), Russian energy giant Gazprom (45%) and independent Russian oil and gas company Itera (10%), has a monopoly right to supply and distribute gas on Armenia's domestic market.

MOSCOW, April 1 (RIA Novosti) - Russia will double Saturday the price for its natural gas supplied to Armenia from the current $54 per 1,000 cu m to $110.

A Russian-Armenian joint venture, ArmRosgazprom, which is owned by the Armenian Energy Ministry (45%), Russian energy giant Gazprom (45%) and independent Russian oil and gas company Itera (10%), has a monopoly right to supply and distribute gas on Armenia's domestic market.

ArmRosgazprom requested the Armenian commission for the regulation of public services to raise natural gas tariffs from $131 to $240 per 1,000 cu m for private consumers and from $175 to $322 for commercial consumers using more than 10,000 cu m. A relevant decision will come into force a month after the request is approved.

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