OVER 575,800 CONSUMERS SWITCH TO ARMENIA’S GAS NETWORK ON FEB 1

ARKA
Feb 4, 2009

YEREVAN, February 4. /ARKA/. As of February 1, some 575,844 consumers
joined Armenia’s gas network, Armenian gas supplier ArmRosGasProm’s
press service reports.

In January, gas consumers increased by 1,889. As of January 1, 2009,
some 573,955 gas consumers were recorded in Armenia.

In 2008, natural gas output reached 2.254bln cubic meters against 2.054
cubic meters in 2007 – 9.74% year-on-year rise. Armenia saw 11.2%
year-on-year rise in gas consumption (over 2.078bln cubic meters in
2008, compared to around 1.869bln cubic meters in the previous year).

Monopolist in Armenia’s gas supply market, ArmRosGasProm CJSC was
established in 1997. Gazprom OJCS and the RA Ministry of Energy used
to hold 45% of the company’s shares each, with Itera Oil and Gas
Company owning 10% of ArmRosGasProm.

After implementing two of the three planned stages of its investment
program (and buying extra shares of ArmRosGasProm in 2006 and 2008)
Gazprom became 75.55% shareholder of the company, with Itera now
holding 4.44% of ArmRosGasProm’s shares.