Chairman of the Public Services Regulatory Commission Garegin Baghramyan said on Saturday, January 18 that Gazprom Armenia (100% owned by Russia’s Gazprom) proposes to raise tariffs for natural gas by $30.

In January 1, 2019, Russia raised natural gas prices for Armenia from $150 to $165 per one thousand cubic meters, but the so-called “border price" doesn’t affect the internal tariff for the population.

“Gazprom Armenia is no longer compensating the $15 increase in gas prices and is further raising the tariffs by $15,” Baghramyan told reporters on Saturday, Panorama.am reports.

He said negotiations are still underway with the Russian side which has yet to file an application.

Baghramyan added, however, that the price will not necessarily increase by $30 as negotiations focused on the company optimization and possible cost reductions, as well as a $500 million long-term investment project are currently underway.

The official said discussions will most probably conclude by April 1, and only after that may an price increase request be filed.