plans to invest almost AMD 150 billion in 2024-2028

Gazprom Armenia plans to invest $367 million in 2024-2028 to expand the gas transmission system, reconstruct the underground gas storage facility in Abovyan and create new additional capacities.

This investment program was approved by the Armenian regulatory commission.

The company’s CEO, Ashot Hakobyan, told Sputnik Armenia that Gazprom Armenia will not request an increase in gas tariffs in the country in 2024.

He noted that an additional agreement had been signed with Gazprom, with the gas price remaining the same ($165/1,000 cubic meters).

During the meeting on Wednesday, the Public Services Regulatory Commission of Armenia approved the AMD 148.92 billion investment program of Gazprom Armenia CJSC for 2024-2028.

According to the project, the funds will be distributed in a number of areas:

• more than AMD 56.6 billion for the expansion, restoration and reconstruction of the gas transmission system;
• more than AMD 25.11 billion for the expansion, restoration and reconstruction of the Abovyan Underground Gas Storage Station (UGSS);
• more than AMD 20 billion to provide additional capacities of the Yerevan gas transportation system;
• more than AMD 3.93 billion for connection of new customers;
• about AMD 2.28 billion for investments in other areas of the gas transmission system;
• about AMD 40.73 billion for investments in other areas of the gas distribution system;
• about AMD 261.64 million for recent investments.