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Regular Sitting Of Council Of Interrepublican Association For Busine

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  • Regular Sitting Of Council Of Interrepublican Association For Busine

    REGULAR SITTING OF COUNCIL OF INTERREPUBLICAN ASSOCIATION FOR BUSINESS AND SCIENTIFIC-TECHNICAL COOPERATION OF GAS ENTERPRISES HELD IN YEREVAN

    Noyan Tapan
    Oct 21, 2009

    YEREVAN, OCTOBER 21, NOYAN TAPAN. Over the 12 years of its operation,
    ArmRusgazprom Company is increasing its turnover with every passing
    year, achieving success in all major fields of its activities and
    continuing to be Armenia's leader by its authorized capital stock and
    fixed assets, ArmRusgazprom Director General, Chairman of the Company's
    Board Karen Karapetian stated at the regular sitting of the Council of
    the Interrepublican Association for Business and Scientific-Technical
    Cooperation of Gas Enterprises held in Yerevan on October 20.

    According to him, in 2008 the assets of ArmRusgazprom CJSC grew by
    66.7% to about one billion USD, with its revenues making 15 million
    USD. The total corporate investment package amounted to over 700
    million USD, thanks to which the company became the leading investor
    in Armenia. Its authorized capital approached the one billion mark.

    The founding authorized capital of this joint Armenian-Russian venture
    made 270 million USD in 1997.

    It was mentioned that in 2008 the company completed a unique
    and technically complex project - the Iran-Armenia gas pipeline
    construction, and Armenia's energy security was risen to a higher
    level through the connection of the gas transportation systems of
    the two countries. The preparation stage of the Hrazdan Thermal Power
    Plant's 5th power unit reconstruction and modernization program was
    completed and the main stage has begun. It is envisaged that new,
    efficient and regionally competitive thermal energy capacities of
    480 MWt will appear on the energy map of Armenia in 2010.

    The sitting of the Association's Council will end on October 22. The
    Association is composed of gas enterprises and gas-transport companies
    of Europe, CIS and Baltic states. Representatives of Russian, Estonian,
    Czech, German, Ukrainian, Lithuanian, Belarusian, Finnish, and Moldovan
    companies are participating in the Yerevan sitting of the Council.

    The activities of the Association members, their development prospects,
    the operation of the gas-transport systems, safety problems and a
    number of other issues related to the sector are on the agenda.

    The sitting participants and guests will visit Armenia's gas
    facilities.
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