According to Mr. Karapetyan, some $16 mln will be invested in the program in the next two years.
"ArmRosgazprom" is an only supplier of natural gas to Armenia's domestic market. The company was founded in 1997. Its goal is not only to supply local consumers with Russian gas but also to transport it via Armenia to other states. Forty-five percent of all shares are owned by the Armenian Energy Ministry, 45 percent are owned by Russian Gazprom, the rest 10 percent of shares are owned by private Russian oil and gas company ITERA. The authorized capital stock of ArmRosgazprom makes up $270 mln.