BAKU, Azerbaijan, October 2. Azerbaijan and the European Union (EU) discussed expanding cooperation on the Caspian-Black Sea-Europe Green Energy Corridor.
Azerbaijan’s Energy Minister Parviz Shahbazov said this in a post on his X account.
“We held the fourth meeting of the Azerbaijan-EU High-Level Energy Dialogue with Dan Jorgensen, EU Commissioner for Energy and Housing Policy, in Brussels. We discussed energy security, reliable gas supplies, renewable energy and expanding cooperation on the Caspian-Black Sea-Europe Green Energy Corridor.
“We expressed our mutual interest in further strengthening the strategic energy partnership between Azerbaijan and the EU through green energy and electricity interconnections. We emphasized the importance of including the Green Energy Corridor project on the list of Projects of Mutual Interest (PMIs) amid growing electrification and demand for green energy in Europe,” the post said.
Earlier, Energy Minister Parviz Shahbazov said the Caspian-Black Sea-Europe Green Energy Corridor is targeted to be commissioned in stages starting in 2032 and to reach full capacity in 2040.
“The feasibility study for the Caspian-Black Sea-Europe Green Energy Corridor, with a total transmission capacity of 4 gigawatts, has confirmed the feasibility of implementing the project. A final investment decision is targeted for 2029, with the corridor to be commissioned in stages starting in 2032 and reach full capacity in 2040,” the minister said.
According to him, the corridor connecting Azerbaijan with Hungary has been included as a single project in the draft Ten-Year Network Development Plan of the European Network of Transmission System Operators for Electricity.
“An application to obtain the European Union’s Project of Mutual Interest status may be submitted in the coming days. Attracting grants and concessional financing under the relevant European Union mechanisms is of key importance for implementing the project,” Shahbazov emphasized.
The minister noted that the project will connect not only energy systems but also economies and investment opportunities, contributing to expanded interregional cooperation, diversification of Europe’s energy supplies and the transition to clean energy.
