ARMROSGASPROM TO INVEST 52BLN AMD TO IMPROVE GAS TRANSPORTATION SYSTEM IN ARMENIA
ARKA
May 12, 2008
YEREVAN, May 12. /ARKA/. ArmRosgasprom is going to invest 52bln
AMD (approximately $150mln) in 2007-2009 to improve and expand
the gas-transport system in Armenia, as well as to enhance
the network capacity. A new 197.4-kilometre-long gas main –
Kajaran-Sisian-Angeghakot-Jermuk-Ararat – will be constructed (the
diameter of the pipe to be 720mm) and basic blocks with a total length
of 102 kilometres will be renovated to enhance the capacity of the
country’s gas-transport system.
The gas main will run from the south to the north-west, through the
territory of Syunik, Vayots-Dzor, and Ararat, in some sections running
as high as 3,000 metres above sea level, in tough climate and relief
conditions, the company reported. Once the new gas main is put into
operation, the annual delivery volume of Iranian gas will reach 2.3bln
cubic metres against the current volume of 1.1bln cubic metres.
The payment for the additional gas supply will be paid according
to the "gas against energy" principle, via the 230-megawatt-strong
combination-cycle power generating unit being constructed at the
Yerevan Thermal Power Plant (TPP) and the 440-megawatt-strong 5th
power generating unit of Hrazdan TPP.
The Meghri-Kajaran section of Iran-Armenia gas main has been
constructed under an agreement signed by the Armenian government,
represented by "High-Voltage Power Network" Company, and the Iranian
"Sanir" Company, and the loan was extended by the Export Development
Bank of Iran. The second section of the gas main – Kajaran-Ararat –
is under construction now. ArmRosgasprom says by the end of 2008
Armenia will be ready to accept as much natural gas from Iran as set
by the contract – 1.1bln.
ArmRosgasprom has a monopoly right to deliver and distribute Russian
natural gas on Armenian market. The company was founded in 1997. Its
current capital totals $580mln, the shareholders are Gasprom (57.59%),
the Ministry of Energy of Armenia (34.7%) and the Itera oil and gas
company (7.71%).