Armenia can become a unique electrical energy hub in the region. Armenian Prime Minister Nikol Pashinyan said this at Friday’s plenary session of the Eurasian Congress, in Sochi, Russia.

He noted that the strengthening of the potential of the national economies of the Eurasian Economic Union (EAEU) member countries is conditioned by a competent approach to ensuring energy security.

"Based on the current geopolitical realities, we need a new approach to the energy agenda. Armenia is currently undergoing a phased transition to the liberalization of the energy market. Armenia is developing production capacity, carrying out large-scale reconstruction of power transmission lines. The construction of Armenia-Iran and Armenia-Georgia transmission lines will create new opportunities for increasing transit, import, export or seasonal exchange of electricity. From this point of view, Armenia can become a regional electrical energy hub," the PM noted.

He emphasized that it is also important to achieve carbon neutrality and green energy development, and said these matters have found a strong place on the energy and economic agenda.

Pashinyan considered it important to make maximum use of the potential of renewable energy. According to him, the latter can stimulate economic growth and contribute to sustainable development in the region. The Armenian premier expressed confidence that by investing in this sector, the contribution to the fight against global warming can be increased.

In this context, Pashinyan stressed the development of atomic energy. According to him, this plays a key role in ensuring energy independence and energy security of the EAEU countries. Pashinyan noted that Armenia is working on extending the operation period of the country’s nuclear plant and building a new power unit, considering it a priority in the energy policy of Armenia.