Armenia Has Good Opportunities For Development Of Economy And Integr

ARMENIA HAS GOOD OPPORTUNITIES FOR DEVELOPMENT OF ECONOMY AND INTEGRATION IN POWER INDUSTRY: DEPUTY CHAIRMAN OF GAZPROM OJSC

ArmInfo
2009-06-22 16:50:00

ArmInfo. Armenia has good opportunities for development of economy
and integration in the power industry, deputy Chairman of the Board of
Gazprom OJSC Valery Golubev said during the international conference
‘Armenia at the Crossroad of Communications’ organized by the Eurasian
Studies Institute in Tsakhkadzor.

According to him, the good opportunities are largely conditioned by
successful activity of ArmRusgazprom Company, due to which Armenia is
currently gasified by 92%, that is higher than in many CIS countries,
including Russia. V. Golubev recalled that due to the additional issue
of shares, the share of Gazprom in the capital of ArmRusgazprom CJSC
over the last several years was increased from 50 to 80%. Investments
were attracted in construction of Iran-Armenia gas pipeline and the
on-going upgrading of the 5th unit of Hrazdan TPP. Due to the projects
of ArmRusgazprom, it is scheduled to create a unified energy company
at Hrazdan TPP to become the biggest in Transcaucasus and able to
supply electric power to Georgia and Turkey.

At present, a feasibility study of construction of an oil refinery
in Armenia is also considered. First, it is scheduled to build a
terminal for transfer of oil products. ‘The example of cooperation
of Gazprom and ArmRusgazprom is the brightest and the most successful
one within the frames of the Armenian-Russian relations’, V. Golubev
said. To note, a meeting of the Board of Directors of ArmRusgazprom
will be held today, during which the results of 2008 will be summed
up. Moreover, the dividend policy, social issues and the prospects
of further development will be discussed.

Total investments of ArmRusgazprom CJSC in 2009 will make up 78,6 bln
drams against the scheduled 72 bln drams in 2008. 30,5 bln drams of
this amount fall on the 5th power unit of Hrazdan TPP ("Hrazdan-5").