Gazprom Cuts Price for Armenia, Leaves Transit Terms

Russian export monopoly Gazprom has cut the price of gas for Armenia, from $165/’000m³ to $150/’000 m³, according to RIA Novosti. However it has agreed to leave the transit payment terms with Georgia unchanged.

That means Georgia will receive 10% of Russian gas transited as payment. Before it becomes effective, the agreement must pass through the local procedures, which include approval by the ministry of justice and by the government.

Initially Gazprom had asked to pay cash for transit. Georgia consumes about 2.1-2.2bn m³/yr of gas. In 2015 Gazprom exported 295 mn m³of gas to the republic. The remaining volume was imported from Azerbaijan.

Azerbaijan desk