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 kilometres of gas trunk lines. Projects include Nord Stream and South Stream. In 2011, Gazprom produced about of natural gas, more than seventeen percent of global gas production. Gazprom also produced about 32.3 million tons of crude oil and nearly 12.1 million tons of gas condensate. The company has subsidiaries in industrial sectors including finance, media and aviation, and majority stakes in other companies. In 1943, during World War II, the government of the Soviet Union developed a domestic gas industry. In 1965, it centralized gas exploration, development, and distribution within the Ministry of Gas Industry. In the 1970s and