Does Armenia have an oil market?
The less relevant oil markets are fully privatized and liberalized. Armenia relies heavily on natural gas to fuel its economy, constituting 61% of its total primary energy supply, followed by nuclear energy (18%) and oil products (14%). Energy consumption is primarily concentrated in the household (34%) and transport (30%) sectors.
Does Armenia have a gas market?
However, the gas market remains vertically integrated and monopolized by Gazprom Armenia. The less relevant oil markets are fully privatized and liberalized. Armenia relies heavily on natural gas to fuel its economy, constituting 61% of its total primary energy supply, followed by nuclear energy (18%) and oil products (14%).
Does Armenia have energy resources?
Armenia has limited energy resources and can meet only a fraction of the total demand for energy from domestic resources. Armenia does not have oil or natural gas reserves and is thus highly dependent on imported energy resources. It imports oil and petroleum products from Russia, Georgia, Iran, and Europe.
Can Armenia reduce its reliance on energy imports?
Additionally, a second gas pipeline from Iran provides another import route, primarily utilized through a barter agreement where Armenia exchanges electricity for natural gas, only partially using the imported volumes for domestic consumption. Presently, Armenia is actively seeking ways to diminish its reliance on energy imports.
Which country imports natural gas to Armenia?
Natural gas is imported primarily from Russia through Georgia, with a limited volume of natural gas imported from Iran in an electricity-for-gas swap arrangement. Nuclear fuel is imported from Russia. Armenia’s energy consumption efficiency is low compared to developed countries.
How is electricity generated in Armenia?
Armenia has sufficient electricity-generating capacity to meet current domestic needs, but electricity demand is projected to grow by up to three percent annually. Electricity in Armenia is generated primarily by the Armenian Nuclear Power Plant (ANPP), hydroelectric plants, and thermal plants.
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