Armenian Energy Sector: A General Overview

Abstract

Armenia is a small country that gained independence after the col- lapse of the Soviet Union, which does not have access to the open seas and does not possess significant natural resources. The country is completely dependent on imports of hydrocarbons, mainly oil and natural gas, as well as oil products. It should be noted that Armenia mainly purchases natural gas from Russia, the price for which is $ 165 per thousand cubic meters. In principle, if for the beginning of 2021, this price was considered high, and Armenia was looking for ways to reduce it. Later, in Octo- ber 2021, when spot prices in European markets reached $ 900-1200 per thousand cubic meters, this price became very favorable. Now Armenia can only hope that Russia will not change the gas price upward, due to the current situation in the gas market.

Keywords

• Armenia
• Energy
• Natural Gas
• South Caucasus

Armenian Energy Sector: A General Overview

Abstract

Keywords

• Armenia
• Energy
• Russia
• Iran
• South Caucasus

References

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