Black Sea Submarine Cable Project Finalizes Its Feasibility Study

11/12/2024 5:15:01 AM

(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 12. We have finalized the feasibility study for the Black Sea submarine cable project and are moving on to the sea's detailed research, Georgian First Deputy Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili said at the 9th Ministerial Meeting/Steering Committee Meeting pursuant to the Agreement on Strategic Partnership in the Field of Green energy Development and Transmission between the governments of the Republic of Azerbaijan, Georgia, Romania and Hungary in Baku today, Trend reports.

"Georgia has been an active participant in the 'green' energy corridor from the very beginning. We are one of the four countries that signed the agreement for the development of the Green Energy Corridor in the South Caucasus. I believe that over the last two years, we have made significant progress in implementing this project, which is important not only for the energy and 'green' transformation of the South Caucasus but also for Europe's energy security.

We have developed a long-term and fruitful cooperation with our consultant CHESI, and I am confident that its involvement in the professional activities is crucial for the success of this important initiative. The experience gained from the Black Sea submarine cable project will also be very useful for the implementation of the green energy corridor. We are collecting data that will be used for the large-scale green energy transit project," the official explained.

According to Davitashvili, in the coming months, the seabed survey will be completed, which will become an integral part of the 'Green' Corridor project.

To note, the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), which will run until November 22, opened on November 11 at the Baku Olympic Stadium.

The event is the largest organized by Azerbaijan to date and is the first time the region has hosted the event in Azerbaijan. Within COP29, the highest-level event - the summit of world leaders on climate action - will be held on November 12–13.

The main expectation from COP29 is to agree on a fair and ambitious New Collective Quantitative Goal (NCQG) on climate finance. The COP29 chairmanship has launched 14 initiatives that include linkages between climate action and the Sustainable Development Goals, including green energy corridors, green energy storage, harmony for climate resilience, clean hydrogen, methane reduction in organic waste, action on green digital technologies, and other topics.

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