The World Bank revised up its outlook for the economies of the South Caucasus and Central Asia in 2021, predicting that growth would be stronger than it initially expected, and forecast further acceleration next year.

The World Bank projected Armenia's growth at 4.8 percent in 2022 after a 6.1 percent growth this year.

The new contract stipulates more flexible commercial conditions - actual spot prices for “blue fuel”, while in the previous long-term contract the gas price was tied to the “oil basket."

LUKOIL said it had acquired 15.5 percent interest in the Shah Deniz natural gas project in the Azerbaijan sector of the Caspian Sea from PETRONAS for $2.25 billion.

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