Agreement signed by four countries great opportunity for Georgia, region, EU to ensure energy independence - Finance Minister

He noted the Georgian Government had been the initiator of the Black Sea submarine cable project and the preliminary feasibility study proved it would be an economically and financially “successful” project, adding Georgia would finance the geological research of the Black Sea with $20 million and begin the implementation process “in the near future”. Photo: Finance Ministry/Facebook

Agenda.ge, 18 Dec 2022 - 12:11, Tbilisi,Georgia

Georgian Finance Minister Lasha Khutsishvili on Saturday called the signing of a deal on strategic green energy development partnership between Georgia, Azerbaijan, Romania and Hungary a “truly historic” occasion, noting it was a “great opportunity” for Georgia, the [Black Sea] region and the European Union to ensure the energy independence of these countries and make a “significant” contribution to the economic development of the region.

Khutsishvili, a member of the Georgian delegation led by Georgian Prime Minister Irakli Garibashvili, said the country would become not only an economic but also an energy hub for the region and an important contributor to the energy security of the EU.

He noted the Georgian Government had been the initiator of the Black Sea submarine cable project and the preliminary feasibility study proved it would be an economically and financially “successful” project, adding Georgia would finance the geological research of the Black Sea with $20 million and begin the implementation process “in the near future”.