ARMRUSGASPROM CJSC TO INVEST $6,6 MLN IN RECONSTRUCTION AND REPAIR OF ARMENIAN GAS DISTRIBUTION SYSTEM IN 2009

ArmInfo
2009-04-09 20:37:00

ArmInfo. Within the frames of the program on reconstruction and
overhaul of the Armenian gas distribution system, ArmRusgasprom will
invest 2 bln 446.1 mln AMD ($ 6,6 mln), the April 9 press-release of
ArmRusgasprom says.

According to the source, about 150 mln AMD of the specified amount
will be directed to regulation of gas supply modes in blocks of flats
in Yerevan.

The rest of investments will be made in repair, re-laying and
construction of over 93 km of gas pipelines.

To recall, ArmRusgasprom CJSC was set up in December 1997 and is the
sole supplier of natural gas to Armenia. Since 1 April 2009 Armenia has
been buying gas from Russia for $154 per 1000 cub.m. At the moment 80%
of shares in the company’s authorized capital belongs to Gazprom OJSC,
and 20% belongs to the Armenian government.