In December 2005, the owners of “Nairit” formed a owners’ council and Karen Israelyan was elected as president. Karen Israelyan was the former owner of “ArmGasard” joint-stock company. He was removed and was immediately appointed to a new position in the “energy” field of economics. Let’s recall that the share-holdings belonging to “Nairit” were certified by the “StatePolymer” state company and the Ministry of Energy of Armenia is the primary shareholder. Karen Israelyan was probably appointed as president of the council with the help of the ministry.
