Gazprom Armenia Proposes Increasing Gas Price by $30, Says RPUC President Garegin Baghramyan

“Gazprom Armenia” will not compensate the $15 increase in gas prices and is raising it by an additional $15,” stated Garegin Baghramyan, the President of the Public Services Regulatory Commission (RPUC), during a conversation with reporters.

According to him, negotiations with Russia are ongoing at this time. No application has been submitted from the Russian side yet, but it will come. “There is an issue of increasing the current tariffs by about $30,” said the RPUC president, explaining that the existing tariffs are insufficient.

Baghramyan noted that this does not necessarily mean that an increase of $30 will occur, as discussions regarding the optimization of the company, potential cost reductions, and long-term investments with a program of around $500 million are taking place throughout the year.

“All this is being negotiated comprehensively. I believe that the negotiations will conclude by April 1,” he added, mentioning that no application will be submitted during the negotiation process. He also reminded that once an application is submitted, the law stipulates a maximum of 80 working days for its discussion.