According to him, next year the company is to increase gas supplies to Armenia to 1.6-1.7 billion cubic meters taking into account the rates of gasification and consumption volumes in the country.
The capacity of the Abovyan gasholder will be expanded from current 85 million cubic meters to 220-250 million cubic meters, said Mr. Karapetyan. This will cost $27 million, he added. To finance the program the company is negotiating with several banks, including foreign ones, on granting credit.
"The implementation of this program will guarantee our security in an emergency. I am convinced that the problem of Armenia's energy security will be solved soon, given the forthcoming opening of the alternative Iran-Armenia gas pipeline," Karen Karapetyan noted.
The Armenian-Russian company ArmRosgazprom is the single supplier of natural gas to Armenia.
