YEREVAN, February 25. / ARKA /. Armenia’s national gas distribution company - ArmRosGzprom (ARG) – is renamed Gazprom Armenia, the Russian-owned network said in a statement today posted on its official website. The company said all its partners, government agencies and local authorities were notified about the change.
On January 6, 2014, Armenia’s government ceded its 20 percent stake in the company to Russian Gazprom for $156 million to repay half of the $300 million debt. Another half of the debt was written off by the Russian monopoly.
Under an agreement with the Armenian government, Gazprom is to deliver to Armenia 2.5 billion cubic meters of gas annually.
ArmRosGazprom was established in December 1997. It dealt with transportation, storage, distribution and sale of natural gas in Armenia. .-0-