Gazprom to purchase 100% shares of Gazprom Armenia

The Russian natural gas giant Gazprom is going to establish full ownership rights over Gazprom Armenia.

The company’s board of directors has signed a deal, agreeing to purchase the 100% shares for 26,381 Armenian Drams (RUR 3.4bn or approx. USD 55,000), Vestifinance.ru reports.

The deal has also received the Russian Government’s approval.

Gazprom, which is the only shareholder of Gazprom Armenia, earlier owned 80% of the company’s shares.