MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Within the framework of her visit to Istanbul, Minister of Economy and Sustainable Development, Mariam Kvrivishvili, held a quadrilateral meeting with representatives of Turkey, Azerbaijan and Bulgaria, where the parties discussed projects of regional importance and prospects for future cooperation.

Alparslan Bayraktar, Minister of Energy and Natural Resources of the Republic of Turkey, Parviz Shahbazov, Minister of Energy of Azerbaijan and Kiril Temelkov, Deputy Minister of Energy of Bulgaria participated in the meeting.

Mariam Kvrivishvili thanked her colleagues for their strong commitment to advancing this regional initiative and emphasized the significance of signing the Memorandum of Understanding in Baku within the framework of the Southern Gas Corridor Advisory Council Ministerial, which laid the foundation for a shared vision of strengthening regional electricity interconnections.

It was noted at the meeting that regional energy security, diversification and sustainable development can only be achieved through close coordination and practical joint efforts. In this context, the green electricity transmission and trade initiative has great potential to become a crucial platform connecting the region’s energy resources and renewable energy potential with European markets.
During the meeting, within the framework of the Green Electricity Transmission and Trade project, it was decided to establish a joint venture by the Transmission System Operators (TSOs) of the four countries, which will fund the feasibility study and subsequently manage the project directly.

Currently, the draft terms of reference for the feasibility study have been prepared and are expected to be finalized within a few months. The project envisages the transmission of electricity from Azerbaijan and Georgia through the Turkish electricity grid toward Turkey and Bulgaria and, subsequently, to other European markets.

It is noteworthy that the initiative was initiated on November 22, 2024, at the Istanbul Energy Forum. At that very forum, the Memorandum of Understanding on cooperation in the field of green electricity transmission and trade was officially signed between the ministries of the four countries on April 4, 2025, in Baku, during the 11th Ministerial Meeting of the Southern Gas Corridor Advisory Council.