ArmRusgasprom invested $10.4 mil in gas supply program in ’08 in ROA

ArmRusgasprom invested $10.4 million in gas supply program in Armenia
in 2008

2009-01-10 17:00:00

ArmInfo. ArmRusgasprom invested 3.2 billion drams ($10.4 million) in
gas supply program in Armenia in 2008, the company reported.

As of January 1 2009, the number of gas consumers in Armenia totaled
573,955. Under gas supply program in Armenia for 2008, 57,686 consumers
joined the gas network instead of envisaged 50,000 or by 15.4 percent
more. The work on gas supply to 109 facilities envisaged by the program
was fulfilled. In December 2008 the number of real gas consumers of
CJSC ArmRusgasprom was up 6,952. This monthly indicator is considered
the best for the last year.

At the enlarged meeting on January 10, Karen Karapetyan, Chairman of
Board, Director General of ArmRusgasprom CJSC, summed up the company’s
activity for 2008, and took positive view of the projects implemented.
As regards the tasks for 2009, K. Karapetyan said the programs should
be implemented more effectively focusing on the quality of services and
improvement of administration structure. He presented the list of the
tasks to be implemented in 2009 to support sustainable level of
financial and economic activity and future development of the company.
K. Karapetyan charged the subdivisions, subsidiaries and limited
liability companies of the system to report on the activity for 2008
and plans for 2009 within the shortest period of time.

CJSC ArmRusgasprom was founded in December 1997. OJSC Gazprom holds
75.55 percent stake in the company, Government of Armenia – 20 percent
stake, and Itera Group – 4.44%.