ARMROSGAZPROM PARTIALLY PAID OFF CREDIT TO ARMENIAN GOVERNMENT
PanARMENIAN.Net
11.01.2010 19:03 GMT+04:00
/PanARMENIAN.Net/ By the end of 2009, ArmRosGazProm CJSC partially
paid off the credit allocated by Armenian Government. The sum was
paid ahead of the time-limit stipulated for in an October 16, 2009
contract, the company’s press service reported.
The short-term budgetary credit comprising USD 40 billion will be
directed at the construction of the 5th bloc of Hrazdan thermo-power
plant.
ArmRosGazprom (ARG) CJSC was founded in 1997 as a joint
Russian-Armenian natural gas pipeline project. The company organizes
the gas supply for Armenia’s domestic gas market. It buys the gas at
the border from Gazexport, an export unit of Gazprom, and distributes
it through the ARG pipeline, mainly to the domestic market. In 2005
Gazexport supplied 1.5 billion cubic meter (bcm) of gas, which were
distributed to about 430,000 customers, but also enlarges the gas
transport system and underground gas depots in Armenia.
Currently, the company’s authorized capital comprises AMD 316.6
billion.