“The Black Sea Submarine Cable is a key Georgian initiative that will strengthen the EU’s energy security and boost the South Caucasus energy sector,” said Mariam Kvrivishvili, Minister of Economy and Sustainable Development.

According to Mariam Kvrivishvili, granting PMI status confirms the project’s strategic significance.

“The Black Sea Submarine Cable is a key Georgian initiative that will serve our country’s national interests. Its construction is of strategic significance for our country, for strengthening our energy sector and boosting export potential.

The Black Sea Submarine Cable will, on the one hand, ensure the export of electricity generated in Georgia to the European Union, and will strengthen the European Union’s energy security and energy independence. On the other hand, it will boost the South Caucasus energy sector,” she said.

The European Parliament and the Council of Europe approved the Black Sea Submarine Cable Project and granted it the status of Projects of Mutual Interest (PMI).

According to the document published in the EU official magazine, the status means that the Black Sea Submarine Cable Project will be eligible for EU funding and will benefit from accelerated permitting.