Gazprom Armenia fully depends on gas import from Russia via Georgia, the Iran-Armenia Natural Gas Pipeline was intended to decrease the dependency on Russia. The 1.1 bcm of gas per year had given Armenia a considerable bargaining power against Gazprom. Critics now say that placing the pipeline under Russian control would only deepen that dependence and that the agreement could be seen as a big geopolitical victory of Russia in the Transcaucasian region. Gazprom Armenia Gazprom Armenia (), formerly known as ArmRosGazprom (; ), is a subsidiary of the Russian Gazprom company in Armenia. It was founded in 1997 as a joint
Energy in Armenia December 2010, the Armenian Energy Ministry announced that the fifth block of the Hrazdan thermal power plant will go online by April 2011. Although construction on the fifth block began in the late 1980s, the Armenian government tried to unsuccessfully finish it in the late 1990s. The current project is part of a 2006 deal between Gazprom and the Armenian government, in which Gazprom acquired the incomplete facility and increased its stake in Armenia's gas distribution network, in turn pledging to spend $200 million in completing the project by 2011. Hydropower plants have an established capacity of 1,038 MW. The