Russian economic expansion in Armenia

Russian state controlled energy giant RAOEES owns 80% of Armenia’s power system. It operates Armenia’s nuclear power station and owns six hydro electric power stations on Razdan River. It also owns energy distribution systems in Armenia. There is some further news in this area now as well. Russia will be taking over a number of hydro power stations at Voritan River and in return the Russian side will not increase the price of the Russian natural gas delivered to Armenia via Georgia. Currently Armenia is paying USD 180 for 1000 cubic meters of natural gas; this is already very cheap but on April 1 2012 the prices were to increase.