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The Government adopted decisions to a proposal protocol on amendments in December 2, 2013 agreement on gas price formation supplied from Russia to Armenia.  Particularly, according to agreement received on the first draft, the natural gas price for Armenia from January 1, 2016 to March 31, 2016 will remain the same USD 165. According to justification, the signing of this protocol will contribute to the mutually beneficial cooperation between the two countries; facilitate a creation of favourable conditions for economic development, the increase of business activity.

According to second decision, it is expected to leave the additional income of Gazprom Armenia CJSC from the first quarter of 2016 to the company aiming to mend the damages caused by AMD devaluation against USD and to ensure the purchase of investments in Gazprom Armenia CJSC assets by Gazprom OJSC.

'''The sides are due to work out and confirm the timetable for counting the cash flow by no late than  November  1, 2016 from  Gazprom Armenia CJSC to the gas supply system, and from the company's main activity  to the energy supply system,'' reads the draft justification.

As reported earlier, on January 16 Armenian businessman asked Prime Minister Hovik Abraham an  at a meeting to appeal to the Russian Federation to review the gas price for a discount.

PM Abrahamyan had highlighted that the progress of economic relations between the Russian Federation and partner states considerably depends on such prices on energy carriers, which will not limited economic competition, adding that Yerevan has already appealed to the Russian Federation with regard to energy resources and expects a positive response from them given the strategic nature of partnership between the states.