Proceedings of the International scientific and practical conference “Science in the Modern World” (January 19-21, 2026) / Publisher website: www.naukainfo.com. - Cambridge, United Kingdom, 2026. - 203 p.

27 It is important to emphasize that, taking into account the peculiarities of the formation of natural gas import prices, new regional prices should be accepted as an accomplished fact, and options for mitigating their possible negative impact on the RA economy should be sought through the use of internal mechanisms. One of such mechanisms may be the development of a new tariff policy for the sale of natural gas in the RA. The role of gas storage in the territory of Armenia is also important due to the poor technical condition of the gas pipeline passing through Georgia to Armenia. And if we take into account the absence of Armenia's own energy, it becomes clear that the presence of gas storage is one of the current and prospective prerequisites for Armenia's energy security. No less important is the fact that in prospective projects, in the event of becoming a gas transit country, the role of gas storage will sharply increase [7]. When considering the issues of forming investment programs in the gas supply system of the Republic of Armenia, it is necessary to take into account two main principles. The first refers to equity and the second to borrowed capital, which allow determining the effectiveness of the investment program and taking into account the financing of the program at the expense of the proportion of equity and borrowed capital. Experience shows that in order to make such a choice, it is necessary to determine the possibilities of using the potential of financial leverage. The gas sales market of the Republic of Armenia is small and limited by its nature. For the expansion of this market, we attach particular importance to the activities of the most important investment sector of the economy, which largely depends on local and foreign investments. These investments can find their manifestation in transactions for the implementation of various programs of the system. Despite the significant volume of investments made by Gazprom Armenia CJSC to date, the need for investments is still great. The attractiveness of foreign investments in the gas supply market of Armenia, they do not have the opportunity to make large investments in the gas market of the republic, first of all due to the lack of a developed sales mechanism, as well as the isolation of the market.