ARMENIA HAS PROSPECTS TO BECOME BASIC ENERGY CENTER IN REGION

ARKA News Agency, Armenia
Dec 17 2007

YEREVAN, December 17. /ARKA/. Armenia has prospects of becoming a
basic energy center in the region, said Gagik Minasyan, Chair of
the Standing Committee on Financial-Credit, Budgetary and Economic
Affairs of the National Assembly of Armenia.

"Armenia is the only country in the region which has significantly
more generating possibilities than its home demand, and may become
a prospective basic energy center among the other countries of the
region," he said.

According to Minasyan, as compared to its neighbors Armenia has
"school of nuclear energy," which has been formed for several years,
as well as experience of applying the possibilities of nuclear energy.

According to the official statistics, the annual energy production
in Armenia totals about 6bln kilowatt/hour.

Today almost 1100 MW of energy power is used in the country, which
makes 1/3 of the joint power set. As compared to the neighboring
countries, Armenia has real possibilities of exporting energy, in
particular, to Turkey and Georgia.

The only nuclear power plant in the region has been operating in
Armenia since 1976 (at present only the second unit of the plant with
407.5MW energy functions). According to specialists’ estimations,
the Armenian NPP may operate till 2016. The country’s authorities
plan to construct a new nuclear unit with 1000MW power. The project
will total approximately $2bln.