Vladimir Putin and Robert Kocharian first met separately yesterday, before being joined by members of their respective delegations.
Among the Russian delegation was Unified Energy Systems (EES) head Anatoly Chubais and Gazprom chairman Aleksei Miller.
Gazprom has announced plans to raise prices for deliveries to CIS countries. It has proposed charging Armenia $110 per 1,000 cubic meters of gas, almost double the current price of $56.
In September, the Armenian government consented to the sale of the country's power grid to a subsidiary of EES.
At the meeting, Putin said that relations between the two countries are extending into areas beyond energy -- and that the two nations are connected by political, military, and other economic ties.