YEREVAN. – Armenian government will spend money from selling 20% of shares of ArmRusgasprom on development of gas transport network

The package of draft bills was approved during the meeting of the Armenian government on Thursday.

The funds will be directed to state budget and then transferred to ArmRusgasprom (subsidiary of Gazprom) as a compensation for Gazprom debt on gas supplies below market prices.

It should be noted that 20 percent of shares are estimated at around $156 million (AMD 63.3 billion).