ArmRosGazprom CJSC Deputy Director General on Finance and Economy Vahagn Arakelyan said that the fifth unit of Hrazdan thermal power plant will serve as the company’s basic source of income next year.

“The profitability will depend on Hrazdan-5, as we do not expect an increase in gas consumption, naturally and incomes will not grow either,” Mr. Arakelyan told journalists on the sidelines of a European business congress going on in Yerevan.

According to him, the crisis has affected the company’s activity, like many other companies operating in this field. “Gas consumption has sharply decreased, while we have to keep expenses at the same level,” stated Mr. Arakelyan.

As for investment programs, Mr. Arakelyan noted that currently the company does need to attract additional investments to complete them.

The European Business Congress Committee on Legislation, Banks and Finance opened its meeting on management of energy companies’ expenditures in Yerevan on April 20.

The event brought together representatives of gas, energy, financial, banking sectors, including Gazprom OJSC, Overgas, NPF Gazfond, NIIgazeconomika LLC, Zapsibgaz CJSC, BelGasprombank OJSC, NGCC, Calyon Rusbank, BNP PARIBAS, Siemens IT Solutions and Services, Deutsche Bank, Comerzbank, Ingbank, Comita, KPMG, BDO, UBS, SIGESSE s.a., PricewaterhouseCoopers.