GASPROM: GEORGIAN GAS TRANSPORTING SYSTEM NEEDS TO BE REHABILITATED FOR MEETING ARMENIAN GAS DEMAND

ARKA
Apr 2, 2009

YEREVAN, April 2. /ARKA/. Complex rehabilitation and development
works need to be carried out within the gas transporting system of
Georgia in order to meet growing demand for natural gas in Armenia,
Vice-Chairman of Gasprom open joint stock company Valery Golubev said.

Gasprom suggested Tbilisi to discuss possible participation of
the company in reconstruction and development of the Georgian gas
transporting system, the Press Service of ArmRosgasprom reported
referring to Golubev.

Transit via Georgian territory is the main route of the Russian gas
supplies to Armenia, he said.

Largely worn-out state of the Georgian gas transporting system gives
rise to concerns about the reliability of gas supply to Armenian
consumers, Golubev said.

"ArmRosgasprom" holds the monopoly for supply and distribution of
the Russian natural gas on the domestic market in Armenia. The gas
is delivered to Armenia via Georgia

The company was founded in 1997. Its stockholders are "Gasprom" open
joint stock company (80%) and the Armenian Government (20%).