ArmRosgasprom to invest 7.7bln drams this year to modernize gas
distributing system in Armenia

YEREVAN, July 25. /ARKA/. ArmRosgasprom, an Armenian Russian company
importing and distributing natural gas in Armenia, is going to invest
7.7bln drams ($25.6mln) to reconstruct the gas distributing system by
the end of this year. The company says 3bln ($9.96) will be spent to
construct a new gas distributing station for Yerevan, the fourth one.

1.1bln drams ($3.7mln) will be used to relay the accident-prone gas
pipelines, and 3.6bln drams ($11.9mln) to regulate gas supply modes,
improve gas supply system and ensure safe operation.

ArmRosgasprom has a monopoly right to deliver and distribute Russian
natural gas on Armenian market. The company was founded in 1997. Its
current capital totals 278bln AMD ($900mln). The shareholders are
Gasprom (81.16%), the Ministry of Energy and Natural resources of
Armenia (22.78%) and the Itera oil and gas company (5.06%). `0–