The EU to Finance the Connection of the Caucasus and Europe

by Olha Povaliaieva
Monday, December 19, 2022
The EU to Finance the Connection of the Caucasus and Europe

The project for the construction of a power cable along the bottom of the Black sea is launched as part of the refusal to cooperate with a terrorist country

As part of the diversification of reliable partners of the European Union and the refusal to export Russian energy resources, was launched a project of building the Black sea energy cable. A 740-mile power cable will directly connect the Caucasus region and the European Union (we remind you that Georgia is a candidate for EU membership) and will become one of the tools to restrain energy prices.

On December 17, Bucharest hosted the signing of a 4-party agreement on investing in a project that will bring energy security to millions of people. The feasibility study will be ready in September 2023, and the construction of the submarine lines will be in 6 years. After that, gas from Azerbaijan will be supplied to Ukraine, Moldova, Romania, Hungary, and the Western Balkans.

According to Azerbaijani president Ilham Aliyev, the state's renewable resources amount to 27 gigawatts. The state is increasingly gaining a reputation as an energy giant, against the backdrop of a fading Russia and its bloody fossils. At least 10 states have already entered into gas import agreements. In 2023, gas exports from Azerbaijan to Europe will be increased to 11.6 billion m3.

We remind you that Turkey plans to arrange the export of Azerbaijani energy carriers bypassing Russia.

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