The Haykakan Zhamanak (Armenian Times) newspaper reports that Gazprom is dissatisfied with the results of its investments in Armenia. The reason is not lower gas consumption. Gazprom is dissatisfied with the prospects for operation of the 5th power unit of the Hrazdan power station. Gazprom invested hundreds of millions in the 5th power unit that is to be put into operation soon. If operates at full capacity, the 5th power unit is expected to generate almost as much energy as the Armenian nuclear-power plant.

Armenia has energy surplus even now. However, it cannot export considerable amount of energy now. In this case, the 5th power unit has to either remain inoperative or not operate at its full capacity. In both cases Gazprom will never recoup its investments.