President Putin: Russian gas for Armenia to go down to $189 per 1000 cub.m.

Russia and Armenia have found agreement on the formula of price for Russian gas deliveries, which is going to be $189 per 1000 cub.m., Russian President Vladimir Putin said at a press conference in Armenian capital Yerevan yesterday.

He said Russia unilaterally cancels the export duty of energy resources for Armenia. Putin added that the Russian budget will receive less money, but Armenian economy will benefit from this decision.

On Monday Russia and Armenia signed several intergovernmental agreements, in particular the one on cancellation of export duties of gas and oil products for Armenian. Armenian Premier Tigran Sarkisian earlier explained that the price of Russian gas for Armenia of $270 is formed of the price of $189 per 1000 cub.m. and 30% customs duty.

Gasprom Export and ArmRosgasprom have also signed the contract. Gasprom reported that according to the contract, from 2014 to 2018 Russian gas holding will deliver up to 2.5 billion cub.m. of gas a year to Armenia. In 2012 Gasprom delivered 1.7 billion cub.m. of gas to Armenia.—0—