Black Sea Electric Cable Project To Cement Azerbaijan's Role As Reliable Energy Supplier - Oies
Date
7/20/2023 2:18:50 AM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 20. The Black Sea
electric cable project will cement Azerbaijan's role as a reliable
energy supplier, Julian Bowden, Senior Visiting Research Fellow at
Oxford Institute for energy Studies (OIES) told trend.
Bowden believes that this remains an ambitious plan.
"It will be technically complex, and the commercial arrangements
are also complex. There is the issue of building the physical
cable. But there is also issue of generating the electricity to put
in it. If it can be done, then it will help cement Azerbaijan's
role as a reliable energy supplier westward to Europe," he
said.
Overall, talking about Azerbaijan's contribution to Europe's
decarbonization, the expert said to the extent that Azerbaijani gas
has played a role in reducing coal consumption in Europe, it has
played a positive role in the road to decarbonization.
He noted that Azerbaijan supplies gas, it is a fossil fuel and
not regarded as green, although it is better than coal.
"We are all on the journey towards a decarbonized future, and
all countries are at different stages on this journey. Azerbaijan
is fortunate in some ways that it does not have to eliminate coal
in its energy balance – it did this many decades ago," said
Bowden.
He pointed out that Azerbaijan is starting now, with wind and
solar projects being built, the country has a long way to go yet
before it can become a major green energy supplier to Europe.
Azerbaijan, Georgia, Hungary, and Romania signed an agreement in
Bucharest on December 17, 2022 to build an underwater electric
cable under the Black Sea. The project could become a new power
source for the European Union. The 1,100-kilometer cable from
Azerbaijan to Romania will provide Azerbaijani energy for the rest
of the continent. The project could be completed within three to
four years.
The results of the preliminary study on the project will be
known in September.
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