Russian Minister Doubts Armenia Will Receive Comparable Gas Prices Outside the Eurasian Economic Union
31.07.2026,
16:02
Russian Minister of Economic Development Maxim Reshetnikov stated that Armenia is unlikely to be able to count on comparable terms for natural gas supplies outside the Eurasian Economic Union (EAEU).
YEREVAN, July 31. /ARKA/. Russian Minister of Economic Development Maxim Reshetnikov stated that Armenia is unlikely to be able to count on comparable terms for natural gas supplies outside the Eurasian Economic Union (EAEU).
Commenting on Armenian Prime Minister Nikol Pashinyan's statement about seeking alternatives to relations with Russia in the economic and political spheres, Reshetnikov noted that the EAEU remains a key market and the main supplier of resources for the Armenian economy.
"Within the Union's common gas market, Russia supplies gas to Armenia at $177.5 per thousand cubic meters. Compared to current European prices, which exceed $600 per thousand cubic meters, this can only be described as a subsidy. This amount amounts to approximately $1 billion per year. "It's unlikely that anyone outside the Union would be able to offer Armenia such terms," TASS quotes the minister as saying.
Gazprom-Armenia CJSC is a wholly owned subsidiary of the Russian holding company Gazprom and the monopoly supplier of natural gas from Russia to Armenia for domestic consumption.
Currently, the price of Russian gas for Armenia at the border is $165 per 1,000 cubic meters. This price has been in effect since January 1, 2019, and, according to current Armenian-Russian agreements, is not expected to change until the end of 2031.
Commenting on Armenian Prime Minister Nikol Pashinyan's statement about seeking alternatives to relations with Russia in the economic and political spheres, Reshetnikov noted that the EAEU remains a key market and the main supplier of resources for the Armenian economy.
"Within the Union's common gas market, Russia supplies gas to Armenia at $177.5 per thousand cubic meters. Compared to current European prices, which exceed $600 per thousand cubic meters, this can only be described as a subsidy. This amount amounts to approximately $1 billion per year. "It's unlikely that anyone outside the Union would be able to offer Armenia such terms," TASS quotes the minister as saying.
Gazprom-Armenia CJSC is a wholly owned subsidiary of the Russian holding company Gazprom and the monopoly supplier of natural gas from Russia to Armenia for domestic consumption.
Currently, the price of Russian gas for Armenia at the border is $165 per 1,000 cubic meters. This price has been in effect since January 1, 2019, and, according to current Armenian-Russian agreements, is not expected to change until the end of 2031.
