Baku hosts 12th Green Energy Corridor ministerial meeting with representatives of Georgia, Azerbaijan, Romania and Hungary

Georgia’s Minister of Economy and Sustainable Development, Mariam Kvrivishvili, took part in the 12th ministerial meeting of the Green Energy Corridor, alongside senior representatives of the Azerbaijani, Romanian and Hungarian governments. The event was held in the Azerbaijani capital, Baku.

At the 12th ministerial meeting, the parties approved the main reports of the feasibility study, bringing the Green Energy Corridor project close to completion. A detailed action plan was also drawn up to determine the project’s next steps.

As the Minister noted, the parties at the ministerial discussed the opportunities currently available and the growing role the region is playing in strengthening the European Union’s energy security.

“Georgia took part in the Green Energy Corridor ministerial together with Romania, Hungary and Azerbaijan. We discussed global opportunities in the energy sector and the growing role our region is playing in strengthening the European Union’s energy security.

Georgia and Azerbaijan continue their close cooperation so that, in the context of the green corridor between our countries, as well as in light of the energy reforms currently underway in our countries and the broader prospects for the sector’s development, we can join forces while at the same time making our own contribution to strengthening the European Union’s energy security. During the meeting, we had the opportunity to discuss Georgia’s energy policy and the government’s ten-year development plan for the sector in considerable depth. Our task is to secure investment in this sector so that Georgia, first and foremost, becomes self-sufficient in terms of electricity generation, while at the same time we are paying very close attention to increasing the export potential of our energy resources,” said Mariam Kvrivishvili.

Furthermore, she highlighted that the Black Sea submarine cable initiative, a project of paramount importance to Georgia, has progressed to a new phase of development.

“The Black Sea submarine cable is a project of national importance for our country. It is a Georgian initiative, and its development is proceeding at a very active pace. We have already completed the feasibility study. We are now moving on to the next phase, which involves seabed surveys, so that we can actively begin the direct development of the Black Sea submarine cable project,” said the Minister of Economy and Sustainable Development.

During the event, the parties addressed a joint letter to European Union institutions, emphasising the project’s strategic importance and the need for continued cooperation for its development.

The ministerial meeting also approved the GECO Power Company budget and reviewed ongoing and planned activities. The parties agreed that establishing a regulatory cooperation framework is essential for the project’s successful implementation.

Alongside Georgia’s Minister of Economy and Sustainable Development, Mariam Kvrivishvili, the ministerial meeting was attended by Azerbaijan’s Minister of Energy Parviz Shahbazov, Hungarian State Secretary András Tóth, and Romanian State Secretary Cristian Bușoi.

The meeting was also attended by the Deputy Ministers of Economy and Sustainable Development of Georgia, Inga Pkhaladze and Genadi Arveladze, as well as Zviad Gachechiladze, a member of the Board of Directors of the Georgian State Electrosystem and Director for International Relations, Market Development and Accounting Affairs, the press service of the Ministry of Economy has said.