Gas Price Should Not Disrupt Armenia's Economic Development Dynamics: Pashinyan

The Prime Minister of Armenia is confident that the crucial factor is not the gas price at the border, but rather the price at which it is resold to Armenian consumers. In this context, he trusts the partnership with Russia.

It is essential that the gas price does not disrupt the dynamics of Armenia's economic development. This was stated by Armenian Prime Minister Nikol Pashinyan in an interview with the Russian publication "Kommersant".

Pashinyan noted that the parties are currently engaged in calculating a gas price that will not hinder Armenia's economic growth. "The decision will be collaborative. There is no other way it can be and should be," he said.

According to him, the important aspect is not the border gas price but the price at which it is resold to Armenian consumers. Pashinyan emphasized the need to develop formulas that would ensure the efficiency of both "Gazprom Armenia's" operations and the gas price.

"I think this is not only Armenia's goal, but it should also be Russia's goal, because we are talking about the EAEU and have a unified economic cooperation. When economic problems arise in Russia, it worries us a lot. I believe our Russian counterparts, including the President and the Prime Minister, share the same understanding," Pashinyan said.

It is worth noting that earlier, Deputy Prime Minister Mher Grigoryan stated that negotiations should continue until at least one component can be found that will help prevent the rise in gas prices.

The Deputy Prime Minister also highlighted the importance of integrating energy systems in the region and the energy cooperation among Armenia, Russia, and Iran.

Since January 1, 2019, Armenia has been receiving gas from Russia at a price of $165 per thousand cubic meters at the border. The domestic rate amounts to 139 drams per cubic meter, which is nearly $290 per thousand cubic meters.