Quadrilateral Meeting Within the Framework of the Black Sea Submarine Cable Project
On the basis of strategic partnership agreement in the field of green energy development and transmission a high-level meeting of government agencies of the four countries Republic of Azerbaijan, Georgia, Romania, and Hungary, was held in Tbilisi.
The meeting was attended by: Levan Davitashvili, Minister of Economy and Sustainable Development of Georgia, Lasha Khutsishvili, Minister of Finance of Georgia, Romeo Mikautadze, First Deputy Minister of Economy, Peter Szijarto, Minister of Foreign Affairs and Trade of Hungary, Javid Abdullayev, Director of Azerbaijan Renewable Energy Agency, George Niculescu State Secretary of the Romanian Ministry of Energy, Gabriel Andronache, President of the Romanian transmission Grid Transelectrica, Giorgi Gigineishvili, Director General of Georgian State Electrosystem and other high-level guests.
The issue under discussion was the Black Sea submarine cable project, which will be implemented with the support of the Georgian government by Georgian and Romanian transmission system operators Georgian State Electrosystem and Transelectrica.
As a result a 1195-kilometer long cable will be connected to Romania, which will allow the South Caucasus countries and Romania to take advantage of expanded export opportunities and trade electricity at hourly electricity market prices.
At this stage Georgian State Electrosystem along with the consulting company CESI is carrying out a technical-economic study of the project. In the future environmental and social impact assessment and geophysical/geotechnical studies of the Black Sea bed will also be conducted within the framework of the project. Above mentioned will determine the possibilities and best ways of practical implementation of the project.
Thanks to mutual cooperation of the four countries, energy sector will be significantly developed, green energy transit and trade opportunities will increase and European energy systems will potentially be connected to the South Caucasus region.