Gazprom Armenia to invest $500 million in infrastructure upgrade

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YEREVAN, April 8. /ARKA/. Armenia’ national natural gas operator Gazprom-Armenia is planning to invest $500 million in the country’s natural gas system until 2030, Garegin Baghramyan, the chairman of Armenia’s Public Services Regulatory Commission (PSRC), said in an interview with Yerkir Media TV channel.

He said the application submitted by the company to the PSRC for revising the gas tariff for the end consumer involves consideration of a range of issues, including its investment program.

“The company’s investment program until 2030 has already been discussed, it calls for investments of almost $ 500 million, which are very important at the moment,” Baghramyan said.

According to him, no serious investments have been made in the gas distribution system of Armenia in recent years, and there are also problems with the Georgia-Armenia gas pipeline.

“If we want to develop the electric power system, and as you know, we are building the third power transmission line to Iran, and more gas will be supplied to the country, then the gas transmission system should be ready to accept bigger volumes,’ Baghramyan said.

Armena’s national Russian-owned natural gas distributing company Gazprom-Armenia asked formally earlier this month the Public Services Regulatory Commission (PSRC) to allow it to revise the prices of natural gas supplied to various categories of consumers.

The Russian natural gas is delivered to Armenia by Gazprom Armenia a $165 per one thousand cubic meters, which sells it to the bulk of Armenian households at almost $300. Gazprom Armenia also deals with the storage, distribution and sale of natural gas. ($1 – 501.55 dram). –0–

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