Monday, December 2 2013

Presidents of Russia and Armenia, Vladimir Putin and Serzh Sargsyan, took part in the solemn ceremony of putting in commission the fifth power generation unit of Razdan Power Plant, 2 December. 

As Arminfo correspondent reported, during the televised conference the leaders of the two countries communicated with the head of "Gazprom" Aleksey Miller who was at the territory of Razdan Power Plant. The latter reported about the readiness of putting in commission the fifth power generation unit and said the capacity of the unit built at the expense of the investments of "Gazprom" is 480 megawatt. It will generate 3,3 billion kWt/h of electric power. 
Then director of the power plant Karen Sargsyan said about putting in commission of the fifth power generation unit. He also added that the load power was 280 megawatt and electric power started entering the energy system of Armenia. 

Putin asked about the volume of investments attracted for construction of the power generation unit, and the head of "Gazprom" said that it is a little bit more than $300 million, 

On March 31, 2006 Gazprom and the Government of the Republic of Armenia signed a 25-year Agreement identifying the strategic principles of Gazprom's participation in gas and power projects in the Republic of Armenia. The document provides for an increase of Gazprom's ownership stake in ArmRosgazprom via an additional share issue. As a result, Gazprom acquired an 80 per cent stake in ArmRosgazprom. The funds received from the share issue were allocated for purchasing and constructing the fifth power unit at the Hrazdan Thermal Power Plant as well as gas infrastructure facilities in Armenia.

In January 2012 the fifth power unit at the Hrazdan TPP was brought into pilot operation. After the state-of-the-art gas turbines were installed, the total capacity of the Hrazdan TPP reached 480 MW. In 2012 the fifth power generating unit produced 0.9 billion kWh of electricity.  

CJSC "ArmRusgasprom", being the monopolist in the sphere of transportation, storing, distribution and sale of natural gas, was created in December 1997. 80% of shares in its structure belong to the Russian Gazprom and 20% to the government of Armenia.