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GAZPROM ARMENIA TO INVEST 1.3 BILLION DRAMS IN EXPANSION OF UNDERGROUND GAS STORAGE FACILITY
YEREVAN, April 1, /ARKA/. Armenia's Russian-owned national gas
distribution company Gazprom Armenia will invest 1.322 billion drams
in the expansion of the capacity of the Abovyan underground gas storage
facility, a senior official of the company, Ashot Hakobyan, said today
at a meeting of the Public Services Regulatory Commission (PSRC), which
approved the company's 2015 investment program worth 11 billion drams.
He said part of the money-486 million drams- will be used to build the
25th reservoir. As a result the capacity of the storage will increase
to 151 million cubic meters from the current 130 million cubic meters.
The Abovyan gas storage is one of the principal elements of Armenia's
gas transmission system ensuing the country's energy security. It
was constructed in 1962 on rock salt deposits at a depth of 800-1,000
meters. The gas storage regulates also the seasonal gas consumption
by Armenia's industrial sector and supplies gas to the country's most
important gas consumers.
In December 2013, Gazprom signed a contract with Gazprom Armenia on
natural gas supplies in 2014-2018. According to it, Gazprom will
deliver up to 2.5 billion cubic meters of gas every year. The gas
price will be determined by a formula linked to the Russian gas
pricing scheme. ($1 - 471.63 drams). -0- ($1 - 471.13 drams). -0-
http://arka.am/en/news/technology/gazprom_armenia_to_invest_1_3_billion_drams_in_exp ansion_of_underground_gas_storage_facility_/#sthash.49y11eee.dpuf
YEREVAN, April 1, /ARKA/. Armenia's Russian-owned national gas
distribution company Gazprom Armenia will invest 1.322 billion drams
in the expansion of the capacity of the Abovyan underground gas storage
facility, a senior official of the company, Ashot Hakobyan, said today
at a meeting of the Public Services Regulatory Commission (PSRC), which
approved the company's 2015 investment program worth 11 billion drams.
He said part of the money-486 million drams- will be used to build the
25th reservoir. As a result the capacity of the storage will increase
to 151 million cubic meters from the current 130 million cubic meters.
The Abovyan gas storage is one of the principal elements of Armenia's
gas transmission system ensuing the country's energy security. It
was constructed in 1962 on rock salt deposits at a depth of 800-1,000
meters. The gas storage regulates also the seasonal gas consumption
by Armenia's industrial sector and supplies gas to the country's most
important gas consumers.
In December 2013, Gazprom signed a contract with Gazprom Armenia on
natural gas supplies in 2014-2018. According to it, Gazprom will
deliver up to 2.5 billion cubic meters of gas every year. The gas
price will be determined by a formula linked to the Russian gas
pricing scheme. ($1 - 471.63 drams). -0- ($1 - 471.13 drams). -0-
http://arka.am/en/news/technology/gazprom_armenia_to_invest_1_3_billion_drams_in_exp ansion_of_underground_gas_storage_facility_/#sthash.49y11eee.dpuf