Wednesday, April 13, 2016

North-South Energy Corridor Agreement Signed by Armenia, Russia, Iran and Georgia

YEREVAN (ARKA)—Energy ministers of Armenia, Russia, Iran, and the deputy energy minister of Georgia have signed a “road map” for building the North-South Energy Corridor during a meeting in Yerevan on Wednesday.

Armenia’s deputy energy minister Areg Galstyan said after the signing ceremony, the “road map” formalized the steps and programs that will be implemented until 2019, when the energy corridor is supposed to be launched.

According to Galstyan, when the construction of power transmission lines between Armenia and Iran as well as Armenia and Georgia is over, it will enable parallel operation of power systems of the four countries, as they operated during the Soviet Union.

Galstyan also said the North-South Energy Corridor will be used primarily for seasonal electricity swaps through third countries. After the full launch of the corridor, its capacity will reach about 1,000 MW.

He said with Iranian funding, Armenian and Iran will build a power transmission line. Another line will be built between Armenia and Georgia with funding from the German KfW bank.

The Armenian government said after last year’s meeting with the energy ministers and the chief executive of a leading Russian electric utility, the four countries agreed to build a common energy market after the construction of two new power transmission lines connecting Armenia with Georgia and Iran.

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