ArmRosgasprom to invest 7.7bln drams this year to modernize gas
distributing system in Armenia
YEREVAN, July 25. /ARKA/. ArmRosgasprom, an Armenian Russian company
importing and distributing natural gas in Armenia, is going to invest
7.7bln drams ($25.6mln) to reconstruct the gas distributing system by
the end of this year. The company says 3bln ($9.96) will be spent to
construct a new gas distributing station for Yerevan, the fourth one.
1.1bln drams ($3.7mln) will be used to relay the accident-prone gas
pipelines, and 3.6bln drams ($11.9mln) to regulate gas supply modes,
improve gas supply system and ensure safe operation.
ArmRosgasprom has a monopoly right to deliver and distribute Russian
natural gas on Armenian market. The company was founded in 1997. Its
current capital totals 278bln AMD ($900mln). The shareholders are
Gasprom (81.16%), the Ministry of Energy and Natural resources of
Armenia (22.78%) and the Itera oil and gas company (5.06%). `0–
Disclaimer: This article was contributed and translated into English by Navasardian Karapet. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
Direct link to this article: https://www.armenianclub.com/2008/07/27/armrosgasprom-to-invest-7-7bln-drams-to-modernize-armenia-gas-distro/