Deputy Prime Minister underscores "Crossroads of Peace" project’s role in neutralizing energy risks

YEREVAN, DECEMBER 18, ARMENPRESS. Armenia's "Crossroads of Peace" project is of paramount importance in terms of neutralizing energy risks, forming more adequate commodity, economic, and trade relations, as well as managing these risks and creating opportunities for the supply of goods.

Armenian Deputy Prime Minister Mher Grigoryan made this statement during the "Challenges and Opportunities: Towards 2025" two-panel discussion, addressing Armenia's diversification policy. Grigoryan emphasized that there are no isolated risks in the world, and from the perspective of consolidated risks, it would be much more practical to regularly discuss and address these layers, as not everything, regardless of our preferences, is simple.

"We have traditional interconnections that are not solely political. Over the course of 30 years or throughout modern history, both economic and logistical adaptations have taken place. This leads to the understanding that before taking drastic steps, one must carefully assess the potential consequences of each decision. In many cases, when we try to assess, for example, the lack of an energy resource or product and discuss that issue separately, it may seem manageable. But when we look at the issue from the perspective of transportation and infrastructure, we get an entirely different picture," the Deputy Prime Minister noted.

According to the Deputy Prime Minister, these problems often arise also with energy resources, as in many cases there is a price for an energy product in international markets, but, it is then noticed that logistical costs not only increase that price but can also make supply impossible.

"In this regard, I believe that when we try to assess the gas supply infrastructure in the region, we must consider that in managing sustainable energy risks, the issue is not only about the price or availability of the product, but also its supply capabilities, which in many cases are simply physically limited," the Deputy Prime Minister noted.

Grigoryan also emphasized the importance of producing competitive products in today's world, stating that if a product is of high quality, there are simply no problems with its sale and export.