Azerbaijan, Georgia, Hungary, Romania intend to sign memorandum on power supplies

ECONOMICS  05 December 2022 - 16:12

Azerbaijan, Romania, Hungary and Georgia will sign a memorandum on 17 December in Bucharest, agreeing to set up the laying of an electric cable that would supply ‘green’ electricity from Azerbaijan through Georgia to Romania and Hungary.

According to Report, referencing Romanian media outlets, the details of the project were discussed during a meeting in early December within the framework of the OSCE Ministerial Council in Łódź, Poland between Azerbaijani Foreign Minister Jeyhun Bayramov and his Romanian counterpart Bogdan Aurescu.

Azerbaijan and Georgia are seeking to use their geopolitical capabilities to create a new electricity supply route for Europe. Plans to lay an electric cable on the bottom of the Black Sea from Georgia to south-eastern Europe have been under discussion for several years.

"Azerbaijan is trying to export its electricity to world markets. Azerbaijan intends to export electricity to international markets. Of course, our route will definitely pass through Georgia. Our renewable energy capacity is 10 gigawatts and we can export through the Caspian Sea. We believe that Georgia and Azerbaijan will successfully cooperate in this direction as well", President Ilham Aliyev said on October 24 during his visit to Georgia.

On October 19, the Romanian “Romgaz” and Azerbaijani “Socar” gas producers signed a memorandum of understanding expressing their intention to “study the possibility of joint development of a project for the production of liquefied natural gas [LNG] in the Black Sea”.

Caliber.Az