Investment project of Gazprom Armenia JSC for 2017-2019 submitted for PSRC approval

ArmInfo. Gazprom Armenia JSC submitted its 2017-2019 investment project for PSRC  approval.

According to the information of Gazprom Armenia JSC, the total amount of capital expenses during the period of 2017-2019 will form at about  AMD 34,72 bln,  AMD 26,92 bln from which will be allocated to gas transportation system, and AMD 7, 80 bln - to gas distribution system.

The objective of Investment Project is the implementation of all the necessary arrangements, aimed at sustainable and safe gas supplies in gas transportation and gas distribution systems, through the capital investments.  Hrant  Tadevosyan, the Director General of Gazprom  Armenia, in his conversation with reporters mentioned that due to revision of natural gas tariffs  company has not planned to implement a number of large projects, particularly in respect to capital construction. For instance, the construction of new compressor plant was planned at the underground storage in Abovyan. Now this project is suspended and another station, raised in 160-ies, will be operated.

Gazprom Armenia is 100% subsidiary  of Gazprom. The Company is busy with supply and realization of natural gas   at the domestic market of the Republic of Armenia. The gas transportation system comprises 1685 km gas pipes, 14600 km gas pipes of high, medium and low pressure, and supporting constructions.  Gazprom Armenia is one of the leading companies in Armenia, occupying leading positions in Armenian economy.