1.2 BLN DRAMS TO BE INVESTED IN ABOVIAN GAS DEPOT THIS YEAR

Noyan Tapan
May 22 2006

YEREVAN, MAY 22, NOYAN TAPAN. This year it is envisaged to invest 1.2
bln drams (about 2.7 mln USD) in the Abovian gas depot. This sum will
be used to restore the design completeness of three gas holes and to
construct a saline water pipe and saline water depository. Director
General of ArmRusgazprom company Karen Karapetian stated during the
May 22 round table that this invsetment will allow to store 110 mln
cubic meters of gas in 2006-2007 instead of the current amount of 95
mln cubic meters. In the past five years, investments in the gas depot
have amounted to 1.8 bln drams. K. Karapetian said that by the design
capacities, it is possible to store 200-215 mln cubic meters of gas
in the depot. According to him, the company has developed a program
of reconstruction and modernization of the Abovian gas depot that
envisages investments of 25-30 mln USD. However, as the company’s
director general noted, these funds will be invested only if other
regional countries take interest in the use of the gas depot.