Armenia has been very successful in attracting foreign investment to promote energy production in a sustainable manner. Nevertheless, the development of secure and diversified sources of energy imports remains a pressing issue for the country. This review shows that the Armenia's potential in the electricity sector could be enhanced by improving interconnections with other countries in the region. The Energy Charter Secretariat is preparing to launch a regional task-force on a technical level to address issues of electricity interconnections among the Caucasus countries, which would support the creation of a regional electricity market in the long-term future.
The review's policy conclusions and recommendations aimed at assisting Armenia's policy makers in designing more efficient investment climate policies, which would motivate energy market players to make timely investments in appropriate technologies with more certainty. At stake are the country's energy security, economic growth and environment protection.
This report was prepared by the Ministry of Energy and Natural Resources of the Republic of Armenia in close cooperation with the Energy Charter Secretariat and mainly covers the period 2009-2014. Peer review experts from Albania and Lithuania contributed to preparation of the report.
Review of the Investment Climate and Market Structure in the Energy Sector of Armenia is available in English.