YEREVAN, SEPTEMBER 23, NOYAN TAPAN. The rise in the gas tariffs in Armenia starting from April 1st of next year will not be burdensome for the economy and residents - gas users, the director general of the board of ArmRusgazprom CJSC Karen Karapetian gave his assurances during the September 23 briefing with reporters. He refrained from announcing the tariffs, noting that these tariffs will be determined by the RA Public Services Regulatory Commission. ArmRusgazrom will soon submit a bid to the commission which will determine the tariff sizes. K. Karapetian underlined the importance of signing the 2009-2015 agreement on natural gas supply of the Republic of Armenia, which is based in particular on the fact that Gazprom is not only a gas supplying and selling company but also "one of our shareholders and it is interested in developing the gas market and the economy." The head of ArmRusgazprom also attached importance to the provision, by which the gradual change of gas prices shall be in line with the rates in Russia, in the domestic markets. He also expressed a positive opinion about the use of the new tariff from April 1st, 2009, which will enable to spend the winter and to adapt to new prices in milder conditions. During a consultation with the participation of Armenian President Serzh Sargsyan, Karen Karapetian pointed out, among the achievements of the company, the growth of the gas supply network installation - from 21% to 91%, the growth in imports and sales of natural gas in Armenia - more than 2.4fold, including the volumes by filling stations - 10fold, by the population - 6.4fold and by industry - 2.3fold. He announced that the number of actual users increased 5.1fold, the gas distribution network was expanded 2.1fold, and the volume of stored natural gas grew 2fold. "The natural gas used as engine fuel in the transport sector substitutes for about 300-330 thousand tons of oil product, thanks to which the annual savings make 380-400 million dollars, according to our calculations," K. Karapetian said. As regards the financial economic indices, he attached special importance to 2,5fold growth in the average salary of the company's employees: ArmRusgazprom has become a profitable enterprise from an unprofitable one, with its profit reaching nearly 12 billion drams. Among the tasks of their company, K. Karapetian indicated the signing of an agreement on natural gas supply of Armenia through 2015: ensuring a not sharp growth of the gas price, as well as improving the safety level of the gas supply of users. According to K. Karapetian, the investments of the company will amount to 720-750 million dollars in 2008-2010, including the implementation of gas energy programs. Among the biggest investment programs he indicated the purchase, construction and modernization of the 5th power unit of Hrazdan Thermal Power Plant which cost about 430 million dollars.

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