Clarification Concerning the Establishment of the “Energaimpex” Closed Joint Stock Company

As it is known, as a result of the agreement reached between the Republic of Armenia and the Islamic Republic of Iran various transactions for gas and electricity exchange are carried out.

In order to provide for RA the required amount of energy carriers and as a result of a decision to create a quadrilateral energy corridor, announced after negotiations between Iran-Armenia-Russia-Georgia, the RA Ministry of Energy and natural resources has developed a draft of the government decision, which plans to create the “Energaimpex” CJSC. This will give opportunity to increase the volume of natural gas import from the Islamic Republic of Iran, making the use of Iran-Armenia gas pipeline more efficient. As for the upcoming triplication of the Iranian gas volumes; it also has a direct connection with the construction of Iran-Armenia power line, after whicth the exchange of electricity between the two countries will sharply increase.

Taking into consideration the fact that Armenia has experience of working in the energy sector with Russia, Iran and Georgia, which is a major advantage in the region, alongside with the construction of the third power transmission line Armenia-Georgia and Armenia-Iran, the regional energy projects of Armenia will enter into brand new level.

Therefore, it is expected that these and similar measures will increase the energy role of RA in the region, besides, the additional sales of electricity and gas in the internal and external markets will contribute to increase the economic performance of the state budget and tax revenues.