The price of natural gas imports from Russia must be renegotiated from the perspective of the Yerevan authorities.

On 31 March, Armenia's Vice Prime Minister Mher Grigoryan wrote a letter to Gazprom CEO Alexei Miller, suggesting to renegotiate the existing gas price. “It is obvious that the consequences of the coronavirus pandemic will have a negative impact on the social and economic development of our countries, which would lead to a reduction in energy demand. Given the forecast and the current price situation for energy resources on the world market, including oil and gas, we think it is appropriate to start new negotiations on the price of gas imported from Russia.”

Armenia also considered the discussion about a price reduction for gas on the Georgian-Armenian border and the payment of gas imports in national currency to be in a timely manner.

On the same day, Armenia’s Prime Minister Nikol Pashinyan conducted a phone call with the Belarusian President Alexander Lukashenko. They both indicated that the current price for Russian gas is overpriced given the recent trends in the world market.

The gas supplies to the  Armenian domestic market are regulated by Gazprom-Armenia, which is 100% owned by the Russian Gazprom. Last year, gas prices on the Georgia-Armenia border increased from $ 150 to $ 165 per 1,000 cubic meters. Before the coronavirus pandemic, Gazprom announced that gas prices for Armenia would not change this year.