Vance: Armenia and the United States have completed negotiations on the "123" agreement in the field of civil nuclear energy

ArmInfo. Armenia and the United States have completed negotiations on the "123" agreement in the field of civil nuclear energy, with investments of approximately $9 billion expected. This was announced by US Vice President J.D. Vance during a press statement following talks with Armenian Prime Minister Nikol Pashinyan in Yerevan.

"We are also proud that our countries have completed negotiations on the 123 agreement in the field of civil nuclear energy. Once this gets underway, it will pave the way for future programs between American and Armenian companies. The initial investment is $5 billion, with a second phase of investment of another $4 billion. This is a win-win situation for both Armenia and my country, in terms of energy security and energy stability, which will create many jobs in both the United States and Armenia," Vance said.

According to him, all this means American modular reactors and American technologists will come to this country. Vance added that the United States very rarely exports its technology, and today this opportunity is opening up thanks to the efforts of the Armenian prime minister.

He then touched on the TRIPP (Trump Route for International Peace and Prosperity) project, noting that it is aimed at transforming the South Caucasus region. "This region will usher in a new era of international trade, transit, and energy flows. Unprecedented connectivity will be created between Armenia and neighboring countries. This is wonderful not only for the prosperity of the Armenian people but will also contribute to the peace process. When energy and the economy are linked, it strengthens peace. We don't just seek to create peace; we want the peace we've already created to last," the American official continued.

According to him, thanks to the TRIPP fund, private sector capital will flow into the region, creating connectivity.

It should be noted that the possibility of constructing several small modular nuclear reactors with a capacity of 50-60 MW was previously discussed in Armenia. Moreover, the possibility of constructing them in several regions of the country was even considered. However, one of the main challenges in this area is the lack of experience in operating these reactors among Armenian nuclear scientists. Earlier, Gera Sevikyan, Advisor to the Director General of the Armenian Nuclear Power Plant, told ArmInfo that a fundamental decision had been made to build a new unit in the country using the Russian TOI reactor with a capacity of 1,200 MW. However, as Gnel Sanosyan, the Minister of Territorial Administration and Infrastructure of the Republic of Armenia, subsequently noted, constructing a unit of such capacity is fraught with problems, since the capacity of Armenia's entire energy system remains the same: 1,200 MW. Later, Prime Minister Nikol Pashinyan announced that the country had made a fundamental decision to build a modular nuclear reactor. Moreover, according to Armenian authorities, the country of manufacture for the modular nuclear power plant will be determined in 2026-2027.