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Itera International Energy No Longer ArmRosgasprom's Shareholder

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  • Itera International Energy No Longer ArmRosgasprom's Shareholder

    ITERA INTERNATIONAL ENERGY NO LONGER ARMROSGASPROM'S SHAREHOLDER

    ARKA
    March 23, 2009

    YEREVAN, March 23. /ARKA/. Itera International Energy has sold its
    2,800,000 nominal equities of ArmRosgasprom CJSC to Garsprom, press
    office of ArmRosgasprom reported on Monday.

    The equities make 4.45% of ArmRosgasprom's authorized capital.

    The transaction was registered in Central Depository of Armenia on
    March 12.

    ArmRosgasprom's press office refrained from more detailed comments
    on the matter.

    ArmRosgasprom enjoys the sole right to import and distribute Russian
    natural gas in Armenia.

    Russia conveys natural gas to Armenia through Georgia's territory.

    ArmRosgasprom was established in 1997. Gasprom holds 80% of the
    company's shares.

    The remaining 20% belongs to Armenian Government.
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