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Board of Dirs Approves Acq. of Additional Shares in Armrosgazprom

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  • Board of Dirs Approves Acq. of Additional Shares in Armrosgazprom

    RIA OREANDA
    Economic News
    October 27, 2006 Friday

    Board of Directors Approves Acquisition of Additional Shares in
    Armrosgazprom


    Moscow. OREANDA-NEWS. The Board of Directors of Gazprom approved
    Gazproms acquisition of additional shares in ArmRosgazprom.

    As a result, the share of Gazprom in ArmRosgazprom will grow from 45
    to 58 per cent.

    ArmRosgazproms major business line is natural gas supply to Armenias
    internal market. In addition, ArmRosgazprom is engaged in natural gas
    transmission, storage, processing, distribution and marketing, gas
    transmission system and UGS facility upgrading and expansion in the
    Republic of Armenia.

    The Board of Directors also agreed on Gazprom (UK) Ltds acquisition
    of shares in UrdanetaGazprom-1 S.A. and UrdanetaGazprom-2 S.A.
    (Venezuela).
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