Energy (In)dependence and Economic Benefits of Armenia (Goal 2)

June 30, 2021
Energy (In)dependence and Economic Benefits of Armenia (Goal 2)


  • Rouben Indjikian

    Ph.D. in Economics, Professor of Economics and Management, Webster University Geneva

  • Gaik Oganian

    Energy industry technical and economic consultant, Oil & Gas operational efficiency expert, co-founder of the National Future Energy Leaders programme (NFEL) in Armenia

  • Armen Sedefian

    Founding CEO of “SOLGÉS ENERGY”


  • Hasmik Barseghyan

    Specialist in environmental management and renewable energies, co-founder of the National Future Energy Leaders program (NFEL) in Armenia

The second panel discussion on the energy sector aims to evaluate the current state of the energy sector in Armenia and define its mid-term and long-term development directions and possibilities. The relationship between energy freedom and economic growth in the country is important to be discussed.

The World Energy Agency made an announcement regarding countries decreasing CO2 emissions to zero points. Here, the significant role and importance of renewable energy are also mentioned. In Armenia, we have HPPs and TPPs and heritage from the Soviet era, the NPP, which takes up half of Armenia’s energy consumption. Therefore, Armenia has all the potential and expertise to be among the leaders of the transition process the world is going through. Armenia needs to make use of the Diasporan expertise, as well as the help from various international companies.

All in all, the new dynamics of the 21st century and the changes that come with it should be considered and put to better use: using better energy sources, decreasing energy waste and increasing savings. These elements will define the future stability of the energy economy of Armenia.

ARMARAS Think Tank was founded by various field representatives of the French-Armenian community. The specialty of this Think Tank is analyzing the essential elements and fields of Armenia-Diaspora relations. Everything is interdependent and interlinked. In the energy sector, the picture is the same; it’s global. We are convinced that Armenia can be a leader, an innovator and a creator in the energy sector since it has all the potential of leading the path to both renewable energy and making the best use of the non-renewable types of energy resources.

The world is facing substantial climate disasters, and we need all the brains we have to prevent those disasters. We can think of a Green Nation concept. The concept lies in creating independent communities (using creating greenhouses in each region of Armenia), which will have its energy, water, and infrastructure, assuring the region’s security and the independence of the rest of the regions. In other words, to build smart cities. We need to strive for energy independence.

  • ARMARAS will soon have its office in Armenia, and it will become possible for people to join us from Armenia as well. There are all the financial means necessary to proceed with the project. There is the support; there are the projects; all we need to do is start.
  • With Artsakh, we lost a significant portion of Hydro Power. The current energy security of Armenia is based on gas, nuclear energy and renewable energy sources. Oil is used in the transportation system only, so the state needs to emphasize transferring the country to electric cars in the nearest future. Some other future steps are energy diversification and basing the selection more on stable energy sources of the future. Efficient use of these sources will help Armenia. Oil is no longer the source of the future. Electrification should be the primary option.
  • SMR is not an innovative method; it has been used for a long time in countries like China and France. To produce Hydrogen, we need water and electrolyze; both exist or can be found in Armenia. It is a profitable energy source, and European countries are making considerable investments in developing this field. Armenia has the potential, and we sure need to follow that path as well.
  • Financing is based on three main directions: Gas, NPP and HPP. Except for those, there are immense possibilities for solar and wind energy. Armenia should keep relations with Russia to assure price predictability and stability rooting from the country relations regarding gas and nuclear energy. All effort and investment should be made to keep gas as Armenia’s primary energy source until we can turn to alternative energy sources.
  • International expertise and capital should be attracted to Armenia. The field should be made stable to make sure Armenia becomes a country for investments.
  • Even big countries like the US talk about making their energy sector independent. Nonetheless, there is much export and import in between countries. It is a vast industry where it is more of an interdependency than independence. The level of interdependence matters here. We need to position ourselves, Armenia, properly. We need to know that we are in a competitive region, and we need to fight not only for the energy sources but also for being in the energy discussions.
  • There are two small producers of solar panel batteries in Armenia.
  • When we talk about providing the necessary energy sources, it can be by producing internally or essential. We do have the potential to produce internally, but we need the expertise and the capital to be imported. At the moment, our solution is import.
  • Some future Armenia’s energy sector predictions are: more than half of the energy burden will lie on hydrocarbon. On the other hand, taking 2040 as an end deadline is too far. We need to put smaller goals and prove by actions that we can come up to the expectations. Set up higher goals every other step and rise to them.


About National Future Energy Leaders (NFEL) initiative

The mission of the National Future Energy Leaders (NFEL) Armenia is to shape a proactive professional community of young Armenian energy professionals of Armenia (+Artsakh) and on the international level, to contribute to the country’s energy sector transparency, security, self-sufficiency, affordability and sustainability.

The initiative is founded by young energy professionals and in cooperation with the World Energy Council. To join, please follow the link


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