This project could become a new power source for the European Union as the bloc seeks to reduce its reliance on Russian energy.
ADVERTISEMENTThe 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 power source 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 abandon Russian fossil fuel and diversify our options towards reliable partners in the energy field, such as those present at this table. And it is working," said Ursula von der Leyen, president of the European Commission.
The 1,100-kilometer cable from Azerbaijan to Romania will provide Azeri energy for the rest of the continent.
It will also benefit Moldovans and Ukrainians, who have seen their energy security compromised by Russia's supply cuts and the bombing of critical infrastructure.
The project could be completed within three to four years.
As explained by Azerbaijani President Ilham Aliyev, the Asian country currently produces 27 gigawatts of wind and solar power and is developing projects that should increase this capacity by 4 gigawatts by the end of 2027.
"It is a step towards creating a corridor for green energy," said the president of the natural gas-extracting country.