Caspian-European Union Green Energy Corridor Project Takes Place in Baku.
On December 18, the energy structures of Azerbaijan, Georgia, Romania, and Hungary met at the Four Seasons Hotel in Baku within the framework of the Caspian-European Union Green Energy Corridor project, Azernews reports.
President of Azerenergo Baba Rzayev, Deputy Energy Minister Elnur Sultanov, General Director of State Electric System of Georgia Giorgi Gigineishvili, board member of Romanian company Transelectrica Bogdan Toncescu and representative of Hungarian MVM Group Robert Endreiter attended the meeting.
It should be noted that this event, organised by Azerenergo, was held on December 17, 2022, in Bucharest within the framework of the “Agreement on Strategic Partnership in the field of Development and Transmission of green energy” signed by the Heads of State and Government of Azerbaijan, Georgia, Romania, and Hungary.
According to the agreement, the main priority between the parties was recognised as the transmission of green energy produced by renewable energy sources to be created over and around the Caspian Sea from Azerbaijan to Georgia, and from there by cable line across the Black Sea to Romania and Hungary, and from there to the European Union countries, thus creating a “Caspian-European Union green energy corridor”.
Five meetings of the Steering Committee for the implementation of the agreement, consisting of responsible ministers from 4 countries, have already been held. At the last meeting held in Budapest, as a next step, it was agreed to organise a meeting in Baku to establish a joint venture between the transmission structures.
In particular, the purpose of the December 18 event is to hold the first working meeting between the responsible authorities of the parties and to discuss legal and other practical aspects of the project implementation.
At the meeting, there was a broad exchange of views on the establishment of the joint venture and a roadmap for the continuation of the project. A protocol on the agreement was signed, and it was agreed to hold the next meeting in this format in Georgia.