GAS SUPPLIER TO MAKE LITTLE LESS THAN $4 MILLION IN PROFIT

Panorama.am
15:53 31/10/06

Karen Karapetyan, general director of Hayrusgazard closed joint stock
company, supplier of gas in Armenia, said 84 % of area is supplied
with gas as against 22.2% in 2001. Karapetyan said the population
saves $160-180 million by using gas instead of electricity whereas
the users of gas instead of petroleum save $100 million.

Karapetyan said the company owns $283 million capital and has
made $83 million investment in the course of last 5 years. By the
end of this year, the company will have $ 3 million 750,000 in
profit.