IDEAS home Printed from https://ideas.repec.org/a/eco/journ2/2022-01-32.html
   My bibliography  Save this article

Armenian Energy System Development: The Prospects of EAEU Single Energy Market

Author

Listed:
  • Elizaveta S. Sokolova

    (Department of Public Administration and Municipal Management, Financial University under the Government of the Russian Federation, Moscow, Russia,)

  • Olga V. Panina

    (Department of Public Administration and Municipal Management, Financial University under the Government of the Russian Federation, Moscow, Russia,)

  • Natalia L. Krasyukova

    (Department of Public Administration and Municipal Management, Financial University under the Government of the Russian Federation, Moscow, Russia,)

  • Nikolay P. Kushchev

    (Department of Human Resources Management, Moscow Aviation Institute (National Research University), Moscow, Russia.)

Abstract

Armenia today is a country with significant energy and economic issues. The country has come over a difficult period of military conflict, it s highly dependent on imports of energy resources, the national energy system is out-of-date. The energy issues require significant financial investments, which can t be provided in the current conditions. This defines the theoretical and practical significance of the research, especially in the context of the need for reforms in energy sector and in economy in general. In addition to that Armenia is isolated from EAEU single energy market, which proves to be a problem for the country. The authors focused on the analysis of weak and strong points of the Armenian energy industry, revealing and proving, that the current situation harms economic development of the country. The key strong points revealed are the willingness of cooperation with Russia, readiness for the green transformation, access to the international financial market, readiness of the legal framework. Based on these findings and on the econometric model, that proves that natural gas, oil and hydroenergy are the most significant energy resources for the GDP of the country, contributing to its growth, the authors have developed recommendations for the development of the Armenian energy industry, taking into account the poor situation with financial resources in the country in general and the dependency of Armenian energy system on the Russian energy sector companies.

Suggested Citation

  • Elizaveta S. Sokolova & Olga V. Panina & Natalia L. Krasyukova & Nikolay P. Kushchev, 2022. "Armenian Energy System Development: The Prospects of EAEU Single Energy Market," International Journal of Energy Economics and Policy, Econjournals, vol. 12(1), pages 258-265.
    • Handle: RePEc:eco:journ2:2022-01-32
    as

    Download full text from publisher

    File URL: http://www.econjournals.com/index.php/ijeep/article/download/12585/6218/29526
    Download Restriction: no
    File URL: http://www.econjournals.com/index.php/ijeep/article/view/12585/6218
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Catherine Locatelli, 2014. "The Russian gas industry : challenges to the "Gazprom model"," Post-Print halshs-00853776, HAL.
    2. Voskanyan, M. A., 2020. "Economic impact of COVID-19 pandemic in Armenia," R-Economy, Ural Federal University, Graduate School of Economics and Management, vol. 6(3), pages 183-195.
    3. Dick Magnusson & Jenny Palm, 2019. "Come Together—The Development of Swedish Energy Communities," Sustainability, MDPI, vol. 11(4), pages 1-19, February.
    4. Manfred Hafner & Pier Paolo Raimondi, 2020. "Priorities and challenges of the EU energy transition: From the European Green Package to the new Green Deal," Russian Journal of Economics, ARPHA Platform, vol. 6(4), pages 374-389, December.
    5. Catherine Locatelli, 2014. "The Russian gas industry: challenges to the 'Gazprom model'?," Post-Communist Economies, Taylor & Francis Journals, vol. 26(1), pages 53-66, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mehdi Abbas & Catherine Locatelli, 2019. "Interdependence as a lever for national hybridization: The EU-Russia gas trade [L’hybridation des systèmes institutionnels nationaux dans l’interdépendance. Les échanges gaziers UE-Russie]," Post-Print hal-02472141, HAL.
    2. Giovanni Covi, 2014. "Dutch disease and sustainability of the Russian political economy," ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT, FrancoAngeli Editore, vol. 2014(2), pages 75-110.
    3. Catherine Locatelli, 2020. "Une lecture institutionnaliste de la réforme du secteur gazier russe," Working Papers hal-02734835, HAL.
    4. Liu, Dawei & Xu, Hang, 2021. "A rational policy decision or political deal? A multiple streams' examination of the Russia-China natural gas pipeline," Energy Policy, Elsevier, vol. 148(PB).
    5. Mehdi Abbas & Catherine Locatelli, 2020. "National institutional systems’ hybridisation through interdependence. The case of EU-Russia gas relations," Post-Print hal-02272171, HAL.
    6. Catherine Locatelli & Mehdi Abbas & Sylvain Rossiaud, 2015. "Russia and China hydrocarbon relations A building block toward international hydrocarbon regulation?," Working Papers hal-01246346, HAL.
    7. Locatelli, C., 2018. "La confrontation des systèmes institutionnels nationaux dans l'interdépendance : les échanges gaziers UE-Russie," Working Papers 2018-03, Grenoble Applied Economics Laboratory (GAEL).
    8. Locatelli, C., 2020. "Une lecture institutionnaliste de la réforme du secteur gazier russe," Working Papers 2020-04, Grenoble Applied Economics Laboratory (GAEL).
    9. Catherine Locatelli, 2018. "La confrontation des systèmes institutionnels nationaux dans l'interdépendance : les échanges gaziers UE-Russie," Working Papers hal-01715932, HAL.
    10. Catherine Locatelli, 2015. "Les échanges gaziers entre la Russie et la Chine à l’ aune de leur sécurité énergétique," Post-Print hal-01206226, HAL.
    11. Natalya S. Shcherbakova & Yulia A. Nazarova & Olga S. Kirichenko & Oleg A. Gorunov & Andrey V. Dubrovsky, 2020. "Evaluation of Gas Industry Competitiveness in the Foreign Market," International Journal of Energy Economics and Policy, Econjournals, vol. 10(6), pages 272-279.
    12. Natalya S. Shcherbakova & Yulia A. Nazarova & Natalia A. Navrotskaia & Nataliya V. Bondarchuk & Alla V. Vavilina, 2020. "Evaluation of the Gas Industry Company s Competitiveness in the Domestic Market," International Journal of Energy Economics and Policy, Econjournals, vol. 10(5), pages 401-408.
    13. Muhammad Amir Raza & Muhammad Mohsin Aman & Altaf Hussain Rajpar & Mohamed Bashir Ali Bashir & Touqeer Ahmed Jumani, 2022. "Towards Achieving 100% Renewable Energy Supply for Sustainable Climate Change in Pakistan," Sustainability, MDPI, vol. 14(24), pages 1-23, December.
    14. Ryo Kohsaka & Satomi Kohyama, 2023. "Contested renewable energy sites due to landscape and socio-ecological barriers: Comparison of wind and solar power installation cases in Japan," Energy & Environment, , vol. 34(7), pages 2619-2641, November.
    15. Fouladvand, Javanshir & Aranguren Rojas, Maria & Hoppe, Thomas & Ghorbani, Amineh, 2022. "Simulating thermal energy community formation: Institutional enablers outplaying technological choice," Applied Energy, Elsevier, vol. 306(PA).
    16. Tomasz L. Nawrocki & Danuta Szwajca, 2021. "A Multidimensional Comparative Analysis of Involvement in CSR Activities of Energy Companies in the Context of Sustainable Development Challenges: Evidence from Poland," Energies, MDPI, vol. 14(15), pages 1-19, July.
    17. Paul Calanter, 2023. "Assessing the Energy State of the EU under Green Deal Objectives," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 11(1), pages 16-23, May.
    18. Sylwia Mrozowska & Jan A. Wendt & Krzysztof Tomaszewski, 2021. "The Challenges of Poland’s Energy Transition," Energies, MDPI, vol. 14(23), pages 1-22, December.
    19. Jenny Palm, 2021. "The Transposition of Energy Communities into Swedish Regulations: Overview and Critique of Emerging Regulations," Energies, MDPI, vol. 14(16), pages 1-15, August.
    20. Moritz Ehrtmann & Lars Holstenkamp & Timon Becker, 2021. "Regional Electricity Models for Community Energy in Germany: The Role of Governance Structures," Sustainability, MDPI, vol. 13(4), pages 1-24, February.

    More about this item

    Keywords

    Armenia; Energy Sector; EAEU; Energy Market; Renewable Energy; Conventional Sources of Energy;
    All these keywords.

    JEL classification:

    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • Q47 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy Forecasting
    • P18 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Energy; Environment

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eco:journ2:2022-01-32. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ilhan Ozturk (email available below). General contact details of provider: http://www.econjournals.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.