Energy in Armenia which maintains a monopoly over Armenia's natural gas market. Gazprom wholly owns a crucial 24-mile section of the pipeline which Armenia surrendered in exchange for natural gas supplies from Russia at prices well below the European average until 2009. According to an analyst, Armenia "effectively bargained away its future prospects for energy sources in return for cheaper prices now." While Armenia could diversify its gas supply, with control of the Iran-Armenia gas pipeline, Gazprom now controls the competitors' supply. In 2009 Armenia was importing 1-1.5 million cubic meters of Iranian natural gas, paying for this by electricity exports. In 2010
Gazprom Armenia Gazprom and Armenia signed a contract for 25 years about strategic principles of cooperation in gas and energy projects in the Armenian territory. After this contract Gazprom raised the gas price from the preferential $54 per 1,000 m3 to $110 per 1,000 m3. The price is fixed on this still preferential level until 1 January 2009. To avoid a higher prizes level for natural gas, the Armenian government had to make some concessions that the Iran-Armenia Natural Gas Pipeline and the 5th unit of Hrazdan Thermal Power Station get under control of ARG. Final owner rights must transit till 1