Azerbaijan, Georgia, Hungary and Romania have created a working group for the implementation of the project on electricity supply from Azerbaijan to Central Europe. The Azerbaijani media reported that Hungary's Foreign Minister Peter Szijjarto made the announcement on Friday following a meeting of representatives of the four countries in Baku.
"The large-scale project for the transportation of clean electricity from Azerbaijan via Georgia and Romania to Hungary will help achieve two important goals. Investments in it will help strengthen our energy security and protect the planet's climate. This joint investment is unique because we will lay the world's longest submarine electric cable on the bottom of the Black Sea, 1,195 km long. Today Azerbaijan, Georgia, Romania and Hungary created a working group and set the task to prepare a feasibility study of this project," Szijjarto wrote on Facebook.
In December, in Bucharest, the leaders of the four countries signed an agreement on the supply of electricity from Azerbaijan through Georgia and then by submarine cable to Romania and from there to Hungary. Immediately afterwards, Szijjarto said that the feasibility study for the project had been commissioned back in April to an Italian company, and that its €2.5 million cost would be covered by the World Bank. The document will be ready by the end of 2023.
Szijjarto said that the European Commission considers this project important for the whole of Europe and has allocated €2.3 billion for it. Investment in it is designed for a period of up to four years. It is envisaged that part of environmentally clean electricity coming from Azerbaijan through Georgia and Romania will be used in Hungary, and part - to go from there to other countries. Along the transmission line it is planned to lay a fiber-optic cable.