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Interview of the Minister in charge of Energy and Infrastructure of the EEC Adamkul Zhunusov to RusArmInfo: "Armenia will become a full participant in the EAEU common electric power market”

Interview of the Minister in charge of Energy and Infrastructure of the EEC Adamkul Zhunusov to RusArmInfo: "Armenia will become a full participant in the EAEU common electric power market”

11/16/2016

Member of the Board - Minister in charge of Energy and Infrastructure of the Eurasian Economic Commission (EEC) Adamkul Zhunusov answered questions of "RUSARMINFO" at the Eurasian Week Forum and Expo and appraised Armenia’s level of integration in the common energy market of the Eurasian Union (EAEU).

RUSARMINFO: How do you estimate the level of integration of Armenia in the common energy market of he EAEU? And what are the objective possibilities of development?

Adamkul Zhunusov: Currently, there is no common Eurasian energy market, but we can observe phased development of common markets for energy resources on the basis of relevant concepts, programs, and international treaties. On May 8, 2015, heads of the EAEU Member States approved the general concept of forming the common electric power market, and on May 31, 2016 - the concept of forming the common gas market and common markets of oil and oil products of the EAEU. This will ensure a competitive environment both for Armenia and for all economic operators of the Member States, which will help stabilize energy prices and secure power supply for national economies. In the conditions of the functioning of the common markets of energy, companies from Armenia will get equal rights and non-discriminatory business opportunities with companies from the other EAEU countries.

RUSARMINFO: Armenia produces more electricity than is needed for the domestic market. In addition, there is a real possibility of increasing the power supply. Given Iran's interest in trade relations with the EAEU, does the EEC consider the possibility of increasing exports of Armenian power to neighboring Iran in the framework of deepening cooperation with Iran?

Adamkul Zhunusov: One of the results of the formation of the common electric power market of the EAEU will be the increase of the capacity of power export beyond the EAEU. However, this capacity is limited by the transfer capability of interstate transmission lines. The situation is complicated by the lack of connection of Armenia’s power grids with power grids of the other EAEU countries. However, after the construction of the 400 kV transmission line between Armenia and Georgia, the connection will be ensured that will allow Armenia’s power companies to become full-fledged participants of the EAEU electric power market and realize all the potential for integration, including in the sphere of power transit and export.

The Russian-Armenian news agency RUSARMINFO was the information partner of the event organized by the Eurasian Economic Commission together with the EAEU Member States.