The Azerbaijan State News Agency

ECONOMY

NO RISE IN RUSSIAN GAS PRICES EXPECTED UNTIL LATE 2006

Russia will not push up gas prices for Azerbaijan until late 2006, president of Azerigas joint-stock company Alikhan Melikov said.

According to A. Melikov, although the prices for the natural gas going from Kazakhstan to Russia went up, neither State Oil Company of Azerbaijan Republic nor Azerigas as gas distributor have yet received any reports from Gasprom. In accordance with the contract signed last year, Azerbaijan will be paying $110 per thousand cubic meters of gas to Gasprom until the end of 2006.

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