Gazprom Armenia CEO talks company’s investments

PanARMENIAN.Net - Gazprom Armenia CJSC is one of the main investors in Armenia's economy, with the investment for the 10 years totaling $900 million, the company’s deputy CEO said.

At an event in Tsakhkadzor, Hrant Tadevosyan spoke about the use of natural gas as a motor fuel. “At present, 334 gas stations are operating in Armenia, with 1 station for every 90 square kilometers. Due to an extensive network of gas stations, compressed natural gas is viewed as the fuel of choice, rather than an alternative one, in Armenia,” Tadevosyan said.

Tadevosyan further briefed the audience on the company-implemented major investment projects, including the large-scale gasification of the republic, Iran-Armenia gas pipeline construction, reconstruction and modernization of a Hrazdan hydroelectric power station bloc, improvement of gas calculation system, installation of security systems, expansion of Abovyan underground gas storage facility.

According to official data, Russian gas supplies to Armenia in January-June 2014 grew by 4,1% against last year to total 984.2 million cubic meters.