BRUSSELS: The leaders of Azerbaijan, Georgia, Romania, and Hungary signed an agreement on the construction of a power cable running under the Black Sea to transfer green energy from Azerbaijan’s Caspian Sea wind farms to Europe.
The deal involves a 685-mile (1,100 km), 1,000 MW electricity cable running to Romania from Azerbaijan as part of broader European Union efforts to divert dependence on energy from Russia amid the war in Ukraine.
Hungarian Foreign Minister Peter Szijjarto informed that the European Commission had earmarked $2.4 billion (2.3 billion euros) to support the construction of the electricity cable, which would be the world’s longest cable. Azerbaijan was extending invitations to investors to build turbines to produce green energy.
Europe to increase reliance on green energy
Hungarian Foreign Minister said that by the end of 2023, a feasibility study on the cable project would be completed, adding that the construction would take three to four years.
During the meeting, Azerbaijan said it plans to increase its exports of natural gas to Europe next year as European Union seeks to replace decreasing energy supplies from Russia.
During the meeting, Romanian President Klaus Iohannis said: “Given the current security circumstances marked by the Russian invasion of Ukraine, we need to improve cooperation and show more solidarity to address common challenges.”
“Our energy cooperation will enhance our energy resilience and make sure diversification of transport and supply routes,” The Romanian told the meeting, which was also attended by Ursula von der Leyen, European Commission President.
The European Commission President said the Black Sea electricity cable could transform Georgia into an electricity hub and integrate it into the European Union’s internal energy market. At the same time, it could also help start rebuilding Ukraine’s energy system and aid its reconstruction.
