RUSSIA’S GAZPROM HOPES TO UP STAKE IN ARMROSGAZPROM TO 80%
Prime-Tass Business News Agency
Prime-Tass English-language Business Newswire
February 20, 2007 Tuesday 8:44 PM EET
Russian natural gas monopoly Gazprom hopes to increase its stake in
Armenia’s ArmRosgazprom to 80% from the current 60.69% through an
additional share issue, Sergei Kupriyanov, a spokesman for Gazprom,
told reporters Tuesday.
Gazprom increased its stake in ArmRosgazprom to 60.69% from 45%
effective November 20, 2006 through the purchase of the Armenian
company’s additional shares.
ArmRosgazprom, created in 1997, has a monopoly on the import and
distribution of Russian natural gas in Armenia. It also specializes
in the transportation, storage, processing, distribution and sale of
gas, as well as in the reconstruction and expansion of underground
storage facilities and gas transportation systems in Armenia.