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Russia has plans to give Armenia more gas

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  • Russia has plans to give Armenia more gas

    Armrosgazprom to Invest USD 24 Million in Armenian Gas Sector Over Next
    Three Years

    Rosbalt
    01/04/2004, 12:04

    YEREVAN, April 1. The gas company Armrosgazprom intends to invest nearly USD
    7.7 million in 2004 into a program aimed at reconstituting Armenia's gas
    sector. As reported to a Rosbalt correspondent by the Armenian information
    service, the deal was announced by the director of Armrozgazprom, Karen
    Karapetian, at a working meeting chaired by Robert Kocharian. Karapetian
    added that in 2005-2006, the company planned to invest a further USD 16
    million in Armenia.

    The Armenian energy ministry and Gazprom each control 45% of the shares of
    Armrosgazprom, while 10% belong to the company Itera. The company is the
    sole gas producer in Armenia.
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