ArmRosgasprom to continue its programs with better efficiency in 2009

YEREVAN, January 10. /ARKA/. The program should be implemented in 2009
with better efficiency, General Director of ArmRosgasprom company Karen
Karapetyan said Saturday. He also stressed the importance of improving
the quality of the services and the management structure.

The company’s press service reported that the General Director
presented a list of measures to be implemented this year to maintain
stable financial operations and further development of the company.

Karapetyan summarized the company’s activities for 2008, appreciated
the programs implemented and assigned to respective departments to
submit reports on activities performed in 2008 and the plans for 2009.

`ArmRosgasprom’ holds the monopoly for supply and distribution of the
Russian natural gas on the domestic market in Armenia.

The company was founded in 1997. `Gasprom’ open joint stock company and
Armenian Ministry of Energy had 45% of the shares each with the
remaining 10% belonging to `Itera’. After implementation of two out of
three planned investment stages of the project (after purchase of
additional shares of ArmRosgasprom in 2006 and 2008) the share of
`Gasprom’ company in the authorized stock has increased to 75.55%. The
share of the Armenian Government is 20% and that of `Itera’ 4.44%. ‘0’