Nov 3, 2006

Gazprom grabs Armenia

Over the weekend, Armenia’s President Robert Kocharian signed over control of his country’s gas and electric supply to Gazprom. The deal also places the Iran-Armenia gas pipeline under de facto Russian control.

From the Russian perspective, Armenia’s energy demand represents only a pittance. Yet, the deal is important because it may close the door on competing pipelines from Iran to more lucrative markets in the EU.

No comments: