Armenian-Russian energy cooperation needs diversifying amid Azerbaijan’s energy expansion and Turkey’s enhancing transit role, Konstantin Simonov, Director General of the Russian National and Energy Security Fund, stated during the Armenian-Russian Relations spacebridge.

“New Armenian-Russian energy cooperation projects should be worked out, as Armenia is soon going to be one of the countries with an energy surplus of 40-50 per cent. However, under the present geopolitical circumstances, Armenia is hardly able to export energy. So it has to diversify its energy cooperation with Russia,” Simonov said. He stressed that Russia is playing a rather significant role in Armenia’s energy sector.