The leaders of Azerbaijan, Georgia, Hungary and Romania signed an agreement in Bucharest on Saturday to build an underwater electric cable under the Black Sea.
The project could become a new source of energy for the European Union as the bloc seeks to reduce its reliance on Russian energy.
“Since the beginning of the Russian war, we have decided to move away from Russian fossil fuel and diversify our options towards reliable energy partners, such as those present at this table.” And it works,” said Ursula von der Leyen, President of the European Commission.
The 1,100-kilometer long cable from Azerbaijan to Romania will ensure the export of electricity from Azerbaijan to the rest of the continent.
This will also benefit Moldova and Ukraine, which have felt how threatened their energy security is due to the interruption of Russian supplies and the bombing of critical infrastructure.
The project could be completed in three to four years.
As the President of Azerbaijan Ilham Aliyev explained, this Asian country currently produces 27 GW of wind and solar energy and is developing projects that should increase this capacity by 4 GW by the end of 2027.
“It is a step towards the creation of a corridor for green energy,” said the president of the country, which is also a major producer of natural gas.