The board of directors of “Gazprom” company made a decision to purchase the extra stocks issued by “ArmRosGazard” CJSC. By buying the stocks of “ArmRosGazard” CJSC, “Gazprom” will increase its fixed capital proportion in “ArmRosGazard” CJSC from 45% to 58%. Currently “Gazprom” owns 45% in “ArmRosGazard” CJSC, the Armenian government owns 45%, and the remaining 10% belongs to “Itera” oil/gas company. The number of “ArmRosGazard” subscribers makes up 430.000. During the past four years, the company has invested over $80 million in Armenia, of which 60 million was spent on gasification works. As for the enlargement of the activities of the “ArmRusGazard” on October 26 the general director of the company, Karen Karapetyan, announced that it would be more logical if the Iran-Armenia gas pipeline was given to “ArmRusGazard” CJSC.
