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
Energy in Armenia diesel fuel a day to Armenia through the pipeline; Armenia’s annual demand for refined oil products stands at around 400,000 metric tons. Natural gas represents a large portion of total energy consumption in Armenia, accounting for 50% and is the primary means of winter heating in the country. Gazprom Armenia (owned by the Russian gas giant Gazprom) owns the natural gas pipeline network within Armenia and holds a monopoly over the import and distribution of natural gas to consumers and businesses. Armenia's thermal power stations (which supply approximately 24% of Armenia's electricity needs) run on natural gas, making Armenia (at