Strengthening interconnections, energy transit capabilities of region is of strategic importance for govt - Georgian PM
The Head of the Government said in 2020 the World Bank had published a report on the Preliminary Economic Analysis of the Black Sea submarine cable, proving the economic feasibility of the project, and noted in 2021 the Georgian Government had announced a competition for the feasibility study of the cable and digital line construction project, which began in May 2022 and would be completed in 18 months. Photo: Government Administration
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Georgian Prime Minister Irakli Garibashvili on Saturday said strengthening the interconnections and energy transit capabilities of the region was of strategic importance for the Government, at the plenary session on Strategic Partnership Agreement for Green Energy Development and Transmission.
In his address at the signing ceremony of the Agreement, Garibashvili stressed “being a credible transit partner, Georgia has been a “key link” for the delivery of hydrocarbon resources via major regional energy transit routes from the Caspian Sea basin to the West.
Garibashvili said Georgia had “substantial” potential for power generation surplus from renewable energy sources, which could be supplied to the neighbouring countries and added the Black Sea submarine electricity cable would connect Europe not only with Georgia but also with the entire South Caucasus region and would increase the transit and trade opportunities between the EU and the region.
The implementation of this project opens a new dimension for the development of strategic partnership between our countries and [...] that Georgia having huge potential for production and export of renewable energy, will contribute to the strengthening of Europe's energy security.", the PM added.
The Head of the Government said in 2020 the World Bank had published a report on the Preliminary Economic Analysis of the Black Sea submarine cable, proving the economic feasibility of the project, and noted in 2021 the Georgian Government had announced a competition for the feasibility study of the cable and digital line construction project, which began in May 2022 and would be completed in 18 months.