ISTANBUL
Georgia has hopes to become a member of the European Energy Union as its energy infrastructure develops, said Mariam Valishvili, deputy minister of Energy and Natural Resources of Georgia on Wednesday.
Speaking at the Sixth World Forum on Energy Regulation, sponsored by Anadolu Agency in Istanbul, Valishvili said Georgia has strengthened its energy structure through regulations.
Valishvili emphasized that Georgia is a developing country and has had energy regulations in the country since 1997 for infrastructural reforms.
She said the country aims to deliver secure energy with lower prices and is ready to be a member of the European Energy Union as one of the government's priorities is to develop this market.
"Georgia will be ready to use all of its potential on energy by 2019. Developing countries such as Georgia need a lot of energy investments because these countries have a high economic growth rate," she said.
Georgia's electricity market is growing by 7 percent annually while its natural gas market is growing by 15 percent.
The country imports 80 percent of its energy needs from other countries. However, nearly 85 percent of Georgia's electricity is produced from hydroelectricity power plants but only one fifth of the country's potential hydropower generation is being utilized.
"We want to create an energy market which is based upon competition. That's why the Georgian National Energy and Water Supply Regulatory Commission supports energy investments in the country," she said.
