Armenian public services regulatory commission approves ArmRosgazprom’s AMD 33.98-billion investment program

YEREVAN, January 9. /ARKA/. Armenian Public Services Regulatory Commission has approved ArmRosgazprom’s AMD 33.98-billion investment program for 2013-2015, according to the information posted on the commission’s website.

 The program implies modernization and expansion of the underground natural gas storage in Abovyan, reconstruction of the gas-distributing system and connecting new customers to the network.

On November 19, 2012, ArmRosgazprom submitted an AMD35.91-billion investment program to the commission. It is stipulated in the program that the volumes of work and the amount of investments for 2014 and 2015 may change depending on the course of the program implementation in 2013, off-schedule deviations, the amount of the investments already made and the company’s financial and economic state.  

ArmRosgazprom CJSC, established in 1997, is the sole importer and distributor of Russian natural gas in Armenia. 

Russia conveys its gas to Armenia through Georgia.

The company’s shareholders are Russia’s Gazprom and the Armenian government. ($1- AMD 403.87).-0-