Aim is for country to reduce energy reliance on Russia
US vice-president JD Vance signed a civil nuclear cooperation agreement with Armenia, pledging as much as $9bn (€7.5bn) in potential investment.
The accord, known as a Section 123 agreement, establishes the legal framework for US companies to export nuclear technology, fuel and services to Armenia and opens the door for US firms to compete for a deal to replace the Soviet-era Armenian nuclear power station.
“It’ll pave the way for American and Armenian companies to strike deals on civil nuclear projects. That means up to $5 billion in initial US exports, plus an additional $4 billion in long-term support through fuel and maintenance contracts,” Vance said at a briefing in Yerevan.
“This is a classic win-win for both Armenia and the United States of America. It means stronger energy security for my own country, stronger energy security for Armenia, and it’s also going to create a lot of new jobs.”
Armenia has relied on Moscow for both energy and security since independence from Russia in 1991. The Armenian nuclear facility is operated by Russia’s state-owned nuclear corporation Rosatom and nuclear fuel for the plant is imported from Russia.
The Armenian nuclear power station, also known as Metsamor, has a 416-MW (net) pressurised-water reactor, Armenian-2, that went into commercial operation in 1980. Another unit, Armanian-1, was permanently shut down in 1989. Both units were supplied by Russia.
Last year the Armenian government established a company that will evaluate options for new reactor construction in the country.
The company will look into technology vendors’ proposals on the possible design and cost of a new nuclear unit in Armenia, with the goal of having a development plan for the new capacity by the middle of 2026.
