The seventh Ministerial Meeting on the green energy development and transmission project was held in Tbilisi

The seventh Ministerial Meeting on the implementation of the Agreement on a strategic partnership in the field of green energy development and transmission between the Governments of the Republic of Azerbaijan, Georgia, Romania and Hungary was held in Tbilisi, Georgia. Azerbaijan was represented at the event by Energy Minister Parviz Shahbazov, Georgia by Deputy Prime Minister, Economy and Sustainable Development Minister Levan Davitashvili, Romania by Secretary of State in the Ministry of Energy Dan Dragos Dragan, Hungary by State Secretary of the Ministry of Foreign Affairs and Trade Peter Sztaray. The representatives from Bulgaria, the European Commission, transmission system operators and CESI also attended at the meeting.

In his speech at the meeting, Minister of Energy Parviz Shahbazov said that the rapid implementation of this strategic project, which directs the green energy potential of the Caspian Sea to the strengthening of the security of supply in a wide area, and the transition to clean energy, is of critical importance and drew attention to the proposals promoting the process. During the discussions, the preliminary report of the feasibility study of the Caspian-Black Sea-European Green Energy Corridor project prepared by CESI company, as well as its presentation on the fiber optic component of the green energy corridor were considered. Thus, it was noted that the first task on the feasibility study was completed. The steps to be taken to achieve PCI/PMI status were discussed, relevant instructions in this regard were given to the expert group and consulting company, it was agreed to jointly apply to the European Commission and take necessary measures to facilitate the process. It was also emphasized that the processes associated with the creation of a joint venture between the transmission system operators of four countries, which played an important role in the rapid implementation of the project, were accelerated. The parties decided to establish the joint venture in Bucharest, Romania. At the same time, the signing of a Memorandum of Understanding between the members of the joint venture was agreed soon. In order to solve the issues arising from the activities related to the Joint Venture, the Secretariat - AREA was instructed to organize a meeting in a short time.

In addition, Bulgaria's intention to participate in the Joint Venture was welcomed, and the steps taken by Kazakhstan and Uzbekistan in the context of strengthening regional energy security, transition to green energy and establishing relations between the Central Asia, Caspian and Black Sea regions were also discussed.

At the end, a Protocol was signed on the outcomes of the meeting and it was decided to hold the next meeting in Bucharest in July this year.

It should be noted that the Agreement on Strategic Partnership between the Governments of the Republic of Azerbaijan, Georgia, Romania and Hungary in the field of Development and Transmission of Green Energy was signed on 17 December 2022 in Bucharest.