(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 1. Hungary is ready to share costs of the green energy corridor project connecting to Azerbaijan, Tamás Torma, Ambassador of Hungary in Baku, said in an exclusive interview with trend.

"The intensity of Azerbaijani-Hungarian energy relations is very well demonstrated in the field of natural gas cooperation, however we are aware that Azerbaijan has great potential in the field of renewable energy sources," he said.

The ambassador pointed out that green electricity from the region is yet another opportunity for diversification, and to secure the energy supply of Hungary, by connecting Georgia with Romania.

As a precursor to the project, the examination of technical and financial issues related to the implementation of the Black Sea Submarine Cable began already in 2022. Once it is finished, it will be the longest underwater pipeline in the world, nearly 1200 kilometres long. The Hungarian government is ready to share the costs and supports the creation of a common, four-state economic entity," Torma added.

Azerbaijan, Georgia, Hungary and Romania signed an agreement to build a Black Sea sea-belt electric cable from the Black Sea coast of Georgia to the Black Sea coast of Romania on December 17, 2022.

It is planned to build a cable which will allow to transport four gigawatts of green energy from Azerbaijan.

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