Armenian government has decided to increase the state's share in the
charter capital of ‘ArmRosgazprom’ by $15.4 million, ‘ARKA’ reports.
Armenian Deputy Minister of Energy and Natural Resources Levon
Shakhverdyan said that the share will be increased using 76 gas
distribution networks worth $15.4 million, purchased and restored by
the Ministry of Agriculture in 2008-2010. The purchase and restoration
were held within the credit programs, ‘ArmRosgazprom’ is able to
exploit the facilities for free.
Shakhverdyan explained that increasing the capital will be carried out
stage-by-stage. The first stage involves pricing of the facilities.
‘ArmRosgazprom’ has monopoly rights on supplies and distribution of
Russian natural gas on the Armenian domestic market. The company was
established in 1997. 80% of the shares belonged to Gazprom and 20% to
the Ministry of Energy and Natural Resources. The changes to shares
after increasing the state's share are being clarified.
