Georgia's strategic geographic location makes us a natural bridge between the West and the East, serving as a gateway for eight landlocked countries of South Caucasus and Central Asia; a crucial link on EU's Global Connectivity map and a game changer, when it comes to diversification of transport routes and energy supply to Europe. It was announced by Irakli Garibashvili, Prime Minister of Georgia at the Plenary Session on Strategic Partnership for Green Energy Development and Transmission held in Romania today.
The Head of Government of Georgia delivered a key-note speech at the Plenary Session on Strategic Partnership for Green Energy Development and Transmission held at the Cotroceni Palace of Romania and spoke about the new quadrilateral agreement along with other leaders participating in the milestone event.
The Prime Minister of Georgia noted that present geopolitical challenges and the war in Ukraine has made the need for diversification and resilience even more imperative, in order to address urgent challenges of energy security.
The Head of Government of Georgia expressed his gratitude to the Romanian side for organizing and hosting the historic event, while thanking Ursula Von Der Leyen, President of the European Commission for her support towards the project.
„I am pleased to address the distinguished audience at today's important gathering. At the outset, I would like to thank the Romanian side for hosting and organizing this event, which has a historical importance. I also thank Ursula von der Leyen, President of the European Commission for supporting the project.
Present geopolitical challenges and the war in Ukraine has made the need for diversification and resilience even more imperative, in order to address urgent challenges of energy security. Georgia's strategic geographic location makes us a natural bridge between the West and the East, serving as a gateway for eight landlocked countries of South Caucasus and Central Asia; a crucial link on EU's Global Connectivity map and a game changer, when it comes to diversification of transport routes and energy supply to Europe.
With this in mind, we have made connectivity a top priority, with a special vision of connectivity of the Caucasus region and Europe. We are investing in expanding and modernizing our energy, digital and transport infrastructure; we are bringing these sectors in line with the EU norms and standards according to the commitments under the AA/DCFTA, Common Aviation Area Agreement and within the Energy Community. Extended TEN-T core network and the EaP Economic and Investment Plan provide important tools to facilitate investments in the strategic projects that have national and the wider regional value as well" noted the Prime Minister of Georgia.
According to the Head of Government of Georgia, by connecting the power systems of Georgia, Romania, Azerbaijan and Hungary, Europe will be able to connect not only with Georgia, but with the entire South Caucasus region.
As Irakli Garibashvili noted, being a credible transit partner, Georgia has been a key link for the delivery of hydrocarbon resources via major regional energy transit routes from the Caspian Sea basin to the West.
The Prime Minister of Georgia also stated that implementation of this project transforms the strategic partnership into a new dimension.
"Dear Friends, a few years ago, with the initiative of Georgia, work started on the project, which envisages the connection of the electric energy systems of the Caucasus region and Europe by means of a high-voltage underwater power transmission line. Today, by signing the "Agreement on Strategic Partnership in the field of Green Energy Development and Transmission between Azerbaijan, Georgia, Romania and Hungary" we are confirming the readiness of our countries to cooperate closely in terms of "green energy" supply.
As you may be well aware, Georgia has substantial potential for power generation surplus from renewable energy sources that it can supply to neighboring countries. Today, we have the appropriate infrastructure for electricity supply to all our neighbors, except Europe, The Black Sea Underwater Electricity Transmission Cable holds an important prospect to this end. Project will support development of the renewable energy sector and increase transit opportunities/back-to-back trade options between the EU and South Caucasus Region. As a result of this project implementation, by connecting the power systems of Georgia, Romania, Azerbaijan and Hungary, Europe will be able to connect not only with Georgia, but with the entire South Caucasus region.
In June 2020 the World Bank prepared a report on Preliminary Economic Analyses of the Black Sea Submarine Cable project, which proved that the above-mentioned project is economically viable.
On April 26 of 2021, GOG announced a request for expression of interest for the feasibility study of the Black Sea underwater electricity transmission cable and digital line construction project. The selection was carried out in accordance with the World Bank Procurement Procedures. As the result of selection, the winner has been identified. The feasibility study commenced on May 11 of 2022 and will be implemented during an 18 months' period.
To this end, I should emphasize that strengthening the interconnections and energy transit capabilities of the region is of strategic importance for my Government. Being a credible transit partner, Georgia has been a key link for the delivery of hydrocarbon resources via major regional energy transit routes from the Caspian Sea basin to the West.
The implementation of this project, opens a new dimension for the development of strategic partnership between our countries and once again let me reiterate, that Georgia having huge potential for production and export of renewable energy, will contribute to the strengthening of Europe's energy security" added Irakli Garibashvili.
Prior to the plenary session, the President of Romania held a Greet and Welcome Ceremony at the Cotroceni Palace for the leaders of countries that are signatories to the Agreement on Strategic Partnership of the Republic of Azerbaijan, Georgia, Romania and Hungary for the Development and Transmission of Green Energy.
The Head of Government of Georgia is visiting Romania with a Delegation, consisting of Levan Davitashvili, Deputy Prime Minister and Minister of Economy and Sustainable Development of Georgia; Ilia Darchiashvili, Minister of Foreign Affairs of Georgia; Lasha Khutsishvili, Minister of Finance of Georgia and Revaz Javelidze, Head of Government Administration.
Press Service of the Government Administration