Gazprom-Armenia plans to invest nearly AMD 150 billion in 2024-2028 to expand and upgrade the system
YEREVAN, December 19. /ARKA/. Armenia's national natural gas distributing company Gazprom-Armenia CJSC (a subsidiary of Russian Gazprom holding) plans to invest over AMD 148.92 billion in 2024-2028 in the expansion and modernization of its networks.
The Public Services Regulatory Commission (PSRC) is set to discuss and approve the company's investment program on December 20.
According to the program, the distributing company plans to invest more than 56.6 billion drams in the expansion, restoration and reconstruction of the gas transportation system. Another 25.11 billion drams are to be invested in the expansion, restoration and reconstruction of the Abovyan underground gas storage facility.
Also, more than 20 billion drams are earmarked for providing additional capacities to the gas transportation system of Yerevan. Over AMD 3.93 billion will be invested in connection of new subscribers to the system.
Gazprom-Armenia CJSC, a 100% subsidiary of the Russian Gazprom, is the only supplier of natural gas from Russia to Armenia for consumption by households and enterprises. The gas is shipped through the territory of Georgia at $165 per 1,000 cubic meters.
Armenian households pay now 143,700 ($355) drams per one thousand cubic meters of natural gas. Vulnerable families, which use up to 600 cubic meters of natural gas per year, pay 100,000 drams per one thousand cubic meters.
As part of gas for electricity swap deal Armenia has also been receiving natural gas from Iran since 2009, which is converted into electricity here and is shipped back to Iran- 3 kWh of electricity for one cubic meters of natural gas.
In August 2023, Armenia and Iran signed a document on extending the gas for electricity swap agreement and increasing gas imports to Armenia and electricity exports to Iran. The agreement is extended until 2030. ($1 - AMD 405.95) --0--.
