Reference

The draft Agreement between the Russian Government and the Government of the Republic of Armenia on the Price Formation Procedure for Gas Supplies to the Republic of Armenia determines the formula for calculating the price of supplied gas.

According to the agreement, the price for gas supplied to the Republic of Armenia is subject to indexation by the inflation rate at the beginning of every year and consecutive indexation for each regulation period by the level of change of the gas price in the Orenburg Region.

The authorised agencies of the sides are:

- the Ministry of Energy on the Russian side;

- the Ministry of Energy and Natural Resources on the Armenian side.

This agreement comes into effect simultaneously with the coming into effect of the Agreement between the Russian Government and the Government of the Republic of Armenia on the Conditions of the Sale of ArmRosgazprom Shares and Further Activity.

The agreement terminates within five years from its date of coming into effect or from the date of the termination of the Agreement between the Russian Government and the Government of the Republic of Armenia on the Conditions of the Sale of ArmRosgazprom Shares and Further Activity (depending on which of the aforementioned dates comes first).