Russia doubles cost of gas

Georgia will pay more than double what it pays now for Russian natural gas under an agreement signed today, a top executive with Russian gas giant OAO Gazprom said, in a deal that could potentially threaten its fragile economy.

Before Gazprom’s announcement, Georgia had said it would buy gas from Azerbaijan instead of Russia. But Georgian Prime Minister Zurab Nogaideli said late tonight that Azerbaijan would not be able to supply gas in the early part of 2007 and Georgia would have to purhase Russian gas instead.