MVM CEO Describes Progress Of Black Sea Submarine Cable

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 7.​ The preparation of the technical and economic feasibility study (FS) for the submarine cable project across the Black Sea is scheduled to be completed by the third quarter of 2025, said CEO of MVM Group, Károly Mátrai, at an event titled "Innovative Pathways to a Greener Future: Renewable Energy and Emission Reduction" at ADA University, Trend reports.

"The FS is being developed by the Italian consulting company CESI. We have already seen some preliminary calculations, and initial estimates suggest that the required investments will amount to billions of euros," he said.

Mátrai went on to say that the project, which involves laying the cable across the Black Sea, will take more than two years to get off the ground.

"Consideration must be given to the fact that the cable will be laid underwater, and in some cases, the Caspian region's energy market will support the European market, while in other cases, the European market will help stabilize the Caspian region's energy supply. These scenarios require careful analysis," he added.

The Black Sea submarine cable (BSSC) project plans to establish an undersea high-voltage transmission network to connect the electrical power networks of Georgia and Europe. Upon project implementation, a 1,155-kilometer cable will link Romania, enabling Southeast Europe and Romania to capitalize on enhanced export potential and exchange electricity at hourly market prices. The project's realization will enhance energy security in Europe and the South Caucasus, foster the renewable energy sector, and expand transit opportunities.

MENAFN07042025000187011040ID1109397789