President of Armenia charges government to complete preparations
necessary for increasing governmental stake in CJSC ArmRusgasprom till
the end of the year

2008-12-28 21:20:00

ArmInfo. President of Armenia Serzh Sargsyan has charged the government
to complete preparations for increasing governmental stake in CJSC
ArmRusgasprom till the end of the year, Prime Minister of Armenia
Tigran Sargsyan told media. He could not say how much the stake will be
increased since it requires evaluation of infrastructure assets of the
government and the self-government and completion of the negotiations
with the Russian party. He said the process will be over in the first
quarter of 2009.

Earlier in November, Minister for Energy and Natural Resources of
Armenia Armen Movsisyan said the government will make a proposal for
increase of its share in the authorized capital of the Armenian-Russian
JV by a total of $20-25 million. The government intends to further
ensure uninterrupted exploitation of internal gas pipelines and gas
supply to consumers.

The Armenian Government holds 17.32% stake in CJSC ArmRusgasprom.
Gazprom OJSC holds 78.93% stake in the company and ITERA Group – 3.85%
stake. The authorized capital of the JV is 365.622 billion drams.