Acting Deputy Chief of Mission Jeff Reneau’s comments to media at the EU4Energy South Caucasus High-Level Policy Talks (May 25)
Q-n: How would you assess Georgia’s energy market; how is it developing?
A/DCM Reneau: I think it’s very important to note that Georgia’s energy sector has a lot of potential; there’s a lot of opportunity here and one of the most important elements of that is the opportunity for investors actually to be able to invest. What’s important about today is that this marks the opening of the energy market which allows people then to have the opportunity to diversify energy supply and then, as a result, have more security and more transparency.
Q-n: What are the main challenges on the market today?
A/DCM Reneau: One of the main challenges on the market today actually is transparency and ensuring that there’s a viability of the investors to be able to see what’s possible as far as investment is concerned. With the more transparent system, more investors have the opportunity then to invest clearly in the sector, which then helps the sector develop. So that’s why this is so important today because it represents the opening of that opportunity.
Q-n: What should be done to make country more attractive for the investors?
A/DCM Reneau: One of the things, I think as I mentioned, that’s important for attracting more investors is that investors are very interested in having transparency so that they can understand exactly what it is they’re investing in. So as the energy system [and] sector develops, having opportunities like this which open up and diversifie the energy market—investors can better understand how they can invest in Georgia’s energy sector. That, I think, is one of the main issues that we’re focused on today.