REGULAR SITTING OF COUNCIL OF INTERREPUBLICAN ASSOCIATION FOR BUSINESS AND SCIENTIFIC-TECHNICAL COOPERATION OF GAS ENTERPRISES HELD IN YEREVAN
Noyan Tapan
Oct 21, 2009
YEREVAN, OCTOBER 21, NOYAN TAPAN. Over the 12 years of its operation,
ArmRusgazprom Company is increasing its turnover with every passing
year, achieving success in all major fields of its activities and
continuing to be Armenia’s leader by its authorized capital stock and
fixed assets, ArmRusgazprom Director General, Chairman of the Company’s
Board Karen Karapetian stated at the regular sitting of the Council of
the Interrepublican Association for Business and Scientific-Technical
Cooperation of Gas Enterprises held in Yerevan on October 20.
According to him, in 2008 the assets of ArmRusgazprom CJSC grew by
66.7% to about one billion USD, with its revenues making 15 million
USD. The total corporate investment package amounted to over 700
million USD, thanks to which the company became the leading investor
in Armenia. Its authorized capital approached the one billion mark.
The founding authorized capital of this joint Armenian-Russian venture
made 270 million USD in 1997.
It was mentioned that in 2008 the company completed a unique
and technically complex project – the Iran-Armenia gas pipeline
construction, and Armenia’s energy security was risen to a higher
level through the connection of the gas transportation systems of
the two countries. The preparation stage of the Hrazdan Thermal Power
Plant’s 5th power unit reconstruction and modernization program was
completed and the main stage has begun. It is envisaged that new,
efficient and regionally competitive thermal energy capacities of
480 MWt will appear on the energy map of Armenia in 2010.
The sitting of the Association’s Council will end on October 22. The
Association is composed of gas enterprises and gas-transport companies
of Europe, CIS and Baltic states. Representatives of Russian, Estonian,
Czech, German, Ukrainian, Lithuanian, Belarusian, Finnish, and Moldovan
companies are participating in the Yerevan sitting of the Council.
The activities of the Association members, their development prospects,
the operation of the gas-transport systems, safety problems and a
number of other issues related to the sector are on the agenda.
The sitting participants and guests will visit Armenia’s gas
facilities.