BAKU, Azerbaijan, June 2. The feasibility study for the “Caspian Sea–Black Sea–Europe” power grid project is expected to be completed shortly; the project is intended to provide additional energy supplies to the countries of Eastern and Southeastern Europe, Azerbaijan’s Deputy Minister of Energy, Orkhan Zeynalov, said during a panel discussion held as part of Baku Energy Week, Trend reports.
“Today, Central Asia, the South Caucasus, the Middle East via Türkiye, as well as the Black Sea region all the way to Europe are becoming a single geopolitical space, and Azerbaijan plays the role of a bridge within it,” he noted.
The Deputy Minister also recalled that the recent global energy crisis demonstrated the importance of the Middle Corridor and energy routes through Azerbaijan and Central Asia for global and regional energy security, as well as their impact on price dynamics.
He announced that Azerbaijan is currently implementing several interconnected projects in collaboration with partners from Central Asia, Georgia, Türkiye, Bulgaria, Romania, and Hungary, some of which are at an advanced stage.
According to him, the feasibility study confirms the technical viability of the project; however, further work involves addressing commercial and regulatory issues, as well as ensuring the reliability and stability of the power system, including grid security.
He noted that the next step is to achieve the project’s commercial viability, including an assessment of the economic benefits for participants and the ultimate impact on electricity prices in Europe.
“We believe that in the coming years this could have a positive impact on prices at European end-use points,” he added.
