Black Sea Energy To Receive Status Of Project Of Mutual Interest

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 1. The European Commission (EC) may accelerate granting the Azerbaijan-Georgia-Romania-Hungary Green Energy Corridor (Black Sea Energy) project the status of the project of mutual interest, Azerbaijani Energy Minister Parviz Shahbazov wrote X on, Trend reports.

"At a meeting with EU Energy Commissioner Kadri Simson, we agreed to speed up the process of granting the project of green energy corridor through the Black Sea the status of the project of mutual interest (PMI)," the publication notes.

Shahbazov also informed that at the meeting the sides discussed cooperation on natural gas, hydrogen, and green energy to strengthen energy security.

Meanwhile, the feasibility study for the Black Sea Energy project is planned to be prepared by the end of 2024.

To note, it is about supplying electricity from Caspian Sea RES, mainly from wind farms, primarily from Azerbaijan, via the Black Sea to Romania, Bulgaria, and Hungary.

Azerbaijan, Georgia, Romania, Hungary, and Azerbaijan signed a strategic partnership agreement in Bucharest on December 17, 2022, for the construction of the Black Sea Energy submarine electric cable with a capacity of 1,000 MW and a length of 1,195 km. In June 2023, it was announced that Bulgaria will also join the project. Serbia has also expressed its interest in participating in the project.

The cable will be designed to supply green electricity generated in Azerbaijan through Georgia and the Black Sea to Romania for further transportation to Hungary and the rest of Europe.

Construction of the cable will take 3-4 years.

The European Commission plans to provide 2.3 billion euro for laying the cable, which will be the longest in the world.

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