MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

"The Black Sea Ssubmarine Cable project will contribute to the strengthening of energy security, diversification of supply routes, attraction of foreign investments and the development of green energy not only in Georgia, but also in the region as a whole," – the First Vice Prime Minister of Georgia Levan Davitashvili stated in his speech at the quadripartite ministerial meeting on green energy development held in Baku, Azerbaijan.

The representatives of the governments of Georgia, Azerbaijan, Romania and Hungary discussed the progress of the Black Sea Submarine Cable project and the key issues in this regard in the format of the ministerial meeting for the development of green energy. The parties also discussed the details of establishing the joint company and the steps for the further development of the project. European Commissioner for Energy Affairs Kadri Simson and the representative of the Bulgarian government also attended the session.

In his speech, the First Vice Prime Minister of Georgia emphasized that in parallel with the annually increasing energy consumption, in order to achieve energy security, Georgia is trying to develop existing resources and diversify import sources. In addition, according to Levan Davitashvili, Georgia is expanding its role as a transit country not only in terms of the transit of hydrocarbons, but also in terms of electricity.

"Strengthening and expanding connections is a live process, and we continue to develop new projects. In particular, Georgia has the opportunity to connect directly to the European energy systems through the planned Black Sea Submarine Cable. Its implementation will have a significant economic and transformational effect for Georgia, it will contribute to further economic growth and development. "Access to the European electricity markets will have a positive impact on the Georgian market, its transformation and convergence with the European one," – the Minister of Economy commented.

Levan Davitashvili evaluates the Black Sea Submarine Cable project as an "ambitious initiative" that will be of decisive importance in the chain of sustainable energy transmission and will promote connectivity and cooperation between the participating countries. The First Vice Prime Minister highlighted that the Black Sea Submarine Cable project is an important step towards energy security and environmental sustainability.

As participants of the Georgian delegation, Giorgi Gigineishvili, Director General of the Georgian State Electric System, Jubo Turashvili, Head of the Department of Energy Policy and Investment Projects of the Ministry of Economy, and Zurab Pataradze, Ambassador of Georgia to Azerbaijan, attended the meeting of the Ministerial of Green Energy Development.