The leaders of Azerbaijan, Georgia, Romania and Hungary signed an agreement in Bucharest on the transport of clean energy via an underwater electric cable in the Black Sea from Azerbaijan to Europe, Ađerpress agency reports.
“Given the current security context marked by the Russian attack on Ukraine, we need to establish better cooperation and show more solidarity to alleviate common problems,” Romanian President Klaus Iohannis said at a meeting attended by European Commission President Ursula von der Leyen.
On that occasion, von der Leyen emphasized that the EU’s strategy is to abandon Russian fossil fuels and to turn to clean energy sources with reliable energy partners. “The European Union managed to compensate for the reduction of Russian gas.
“We are not only talking about managing the new geopolitical situation. It is about creating a future for us in terms of clean, accessible and safe sources of energy, which are forms of renewable energy,” said the president of the European Commission.
Von der Leyen pointed out that the EU is ready to provide financial support to that project once a feasibility study is done.
The President of the EC said that this project will connect the two coasts of the Black Sea and beyond with the Caspian Sea region, both digitally and energetically, and that the electric cable under the Black Sea offers multiple possibilities.
“This project could bring significant benefits to Georgia. It could turn the country into an electricity hub and integrate it into the EU electricity market. The cable under the Black Sea could transmit electricity to our neighbors in Moldova and the Western Balkans and of course to Ukraine. This will help in the restoration of the Ukrainian energy system and the restoration of the country,” emphasized the President of the European Commission.
The agreement stipulates that a 1,100-kilometer-long, 1,000-megawatt electric cable runs under the Black Sea, from Azerbaijan to Romania, as part of the EU’s efforts to replace the energy it used to receive from Russia.