“GasProm” plans to increase its shares owned in “ArmRusGazard” up to 80% by 2009. At the present, “GasProm” holds 57.6% of shares in the company. The increase of the stocks of “ArmRusGazard” is based on the agreement signed on March 31st, 2006 which states the strategic principles for gas/energetic project cooperation in Armenia. The increase of the Russian stock at “ArmRusGazard” is conditioned by the goal to acquire more stocks. “GazProm” says that the company is still not thinking about purchasing the share of “ArmRusGazard” belonging to “Iter”.
