GAZPROM PLANS TO BUY EXCESS SHARE OF ARMROSGAZPROM
Regnum, Russia
Dec 13 2007
Gazprom Co (Russia) plans to acquire excess share of ArmRosgazprom
(Armenia). As REGNUM is told at the company’s press office, the
question of acquiring the shares and of Gazprom’s participation in
gas and energy projects in the Armenian territory will be discussed
at the next session of Gazprom board of directors on December 18.
At the same time, the company’s spokesperson did not specify what
amount of shares is planned to be purchased or what the gas and energy
projects could include.
Up to date, Gazprom is basic shareholder of ArmRosgazprom with 57.59%
of shares. 34.7% belong to the Armenian Energy Ministry: Itera Co has
7.71%. By 2009, Gazprom plans to increase its stake up to 80%. One
of the projects carried out by ArmRosgazprom is construction of the
second section of the Iran-Armenia pipeline (Kajaran-Ararat).
Overall, $148mn are to invested in the three-year project. After
the project is fulfilled, Armenia will be able to import 1.1bn cubic
meters of the Iranian gas at the initial stage and from 2019 – 2.3bn
cubic meters. The treaty between Iran and Armenia was signed for 20
years. Armenia is to send back 3 kilowatt of electricity per each
cubic meter of the Iranian gas.