From the second line, 1st sentence. Looks like your out of virtual memory. Always close down programs you do not need open before playing.
It is hard to run out of virtual memory unless your computer uses on board video or you do not restart your computer often.
1. restart your computer daily if your leaving it on all the time.
2. upgrade the ammount of physical memory sticks you have in your computer.
3. increase your virtual memory manually.
4. take off steam from booting up when windows boots.
5. start>all programs>startup
remove everything listed here
6. I run AVG 8 free ed. never gotten this error. AVG should not be the issue therefore you can leave it installed. The error page lists the error for AVG 7.x, this means uninstall your 7 version and upgrade to 8.
If you didn't write down the link and type it in yourself here it is. You can read what Steam says to do.
https://support.steampowered.com/kb_article.php?p_faqid=150
"If you are running any sort of instant messaging application such as MSN Messenger, Yahoo Messenger, or AOL Instant Messenger, try closing these applications before you launch the game. These applications have been known to consume paged pool memory. It is highly recommended that other background applications are disabled until the issue is resolved. Please follow the Disabling Background Applications guide."
That guide is here:
https://support.steampowered.com/kb_article.php?ref=8043-EUJN-5239
If you want step by step guides on any of "my tips", you need to PM me.