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BUCHAREST, Romania (AFP) – Romania, Hungary, Georgia and Azerbaijan on Tuesday launched a joint project to install a power line under the Black Sea with the aim of bringing more renewable energy to the European Union from the eastern Caucasus.
The project Approved by leaders Of the four countries in 2022, it gained momentum after Russia launched its full-scale invasion of Ukraine and Highlight the EU's adoption Russian energy prices have risen sharply. Since then, the 27-nation bloc has sought to wean itself off dependence on Russian energy.
The cable is set to connect Azerbaijan, seen as having significant power generation potential from wind farms on the Caspian Sea, with EU members Romania and Hungary, via Georgia.
Ministers from the four countries launched the joint project at a meeting in the Romanian capital on Tuesday, saying it would help boost energy security and lower electricity prices for consumers.
Romanian Energy Minister Sebastian Borduja said the project was of strategic importance for his country and the European Union.
“If you look at the energy map of Europe over the past few months… we on the eastern side have been paying a very high price recently – and that’s because there’s not enough diversification,” Borduga said.
Azerbaijani Energy Minister Parviz Shahbazov said harnessing renewable energy would help address climate change issues. The undersea pipeline is important for energy security, he added, “but at the same time it will provide green energy… which is high on the international community’s agenda.”
Bulgaria's deputy energy minister also joined Tuesday's meeting, and there were discussions about EU member Bulgaria joining the infrastructure project. Borduga and Shahbazov said the next meeting on the project would be at a U.N. climate change meeting later this year in Azerbaijan.
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