Energy giant Gazprom insists on raising the natural gas price for Armenia in 2013, Armenian Energy and Natural Resources Minister Armen Movsisyan told journalists Thursday, Interfax reported.
"The new gas price will be announced by the end of the year," he said.
In late 2012 or early 2013, the Public Services Regulatory Commission of Armenia will review the investment program of ArmRosGazprom, the Gazprom subsidiary that supplies natural gas to the country, Abgar Budagyan, head of the investment department at the regulator, said.
He added that the commission would evaluate the impact investments will have on gas prices.
Armenia currently buys Russian gas at $180 per 1,000 cubic meters, up from $154 in 2010.
In the January-September period, Russia boosted natural gas deliveries to Armenia 24.3 percent year on year to 1.3 billion cubic meters. (MT)