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Nazrin Abdul

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The feasibility study for the Caspian-Black Sea-Europe Green Energy Corridor project is in its final stage.

Azernews reports that this was announced by Energy Minister Parviz Shahbazov during his speech at the Baku Energy Forum.

“The project is included in the 10-year network development plan and is currently under review by the European Network of Transmission System Operators,” he noted.

The minister also stated that, with the support of the Asian Development Bank and the Asian Infrastructure Investment Bank, a feasibility study is underway for the Central Asia-Azerbaijan Green Energy Corridor project. This initiative will connect Kazakhstan and Uzbekistan to Azerbaijan via the Caspian Sea, providing a direct link to European energy markets.

Thus, in accordance with the requirements of the Agreement on Strategic Partnership in the Development and Transmission of "Green Energy" between the Governments of the Republic of Azerbaijan, Georgia, Romania, and Hungary, signed in Bucharest on December 17, 2022, a broader framework was created with the participation of four countries—Azerbaijan, Georgia, Hungary, and Romania. The project, called the Caspian-Black Sea-Europe Green Energy Corridor or the Black Sea Cable, envisages the transport of "green energy" generated by Azerbaijani wind power plants to Romania and Europe.

At the same time, Azerbaijani Energy Minister Parviz Shahbazov stated in his speech that, last year, more than 75 percent of Azerbaijan's oil exports and 51 percent of its natural gas supplies were directed to European countries.

He said that today, thanks to strategic projects such as the Baku-Tbilisi-Ceyhan pipeline, the Baku-Tbilisi-Erzurum pipeline, and the Southern Gas Corridor - which connect the Caspian Sea to international energy markets -Azerbaijan successfully exports its oil to 25 countries and its natural gas to 12 countries.