Economy Ministry representative highlights Georgia’s “readiness” to contribute to Europe's energy security
Turashvili also noted the project had a “great potential” to promote the development of renewable energy sources in Georgia and the wider South Caucasus region. Photo: Ministry of Economy
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Jubo Turashvili, the Head of the Energy Policy and Investment Projects Department of the Ministry of Economy of Georgia, on Thursday highlighted the country’s “strategic location” in comments that confirmed the Government’s “readiness” to “make a significant contribution” to Europe's energy security.
Turashvili made the remark at the Annual Caspian Business Forum in New York, telling the event Georgia was “expanding its role” as a transit country in hydrocarbon transit and electricity transmission, the Ministry said.
The official also noted the country had the opportunity to connect directly with the European energy systems through the planned Black Sea submarine electricity cable project.
He said the country was a “reliable” transit partner and aiming to “further strengthen” its transit function, and noted the initiatives were “important parts” in the chain of providing “continuous and safe” transit across the South Caucasus to contribute to the energy security of the European Union by diversifying its energy sources and routes.
He also noted the existing transit routes, including the Southern Gas Corridor, a route delivering gas from Azerbaijan to Europe, and said the Black Sea cable project would allow the export of green energy produced in Georgia and the entire region to the European markets to “significantly increase” power exchange opportunities between the South Caucasus and Europe.
Turashvili also noted the project had a “great potential” to promote the development of renewable energy sources in Georgia and the wider South Caucasus region.
He added the expansion of the electricity market towards Europe would encourage investments in production and transmission infrastructure and help create jobs in construction and maintenance, in addition to promoting the country's economic growth.
Enterprise Georgia will finance projects aiming to produce electricity using renewable energy sources, the body announced on Wednesday.
Georgian Deputy Economy Minister Genadi Arveladze on Sunday discussed priority areas of economic cooperation between Georgia and the United States and its further development prospects with Carlos DeJuana, Managing Director of US International Development Finance Corporation and Alexander Sokolowski, Deputy Assistant Administrator in the Bureau for Europe and Eurasia at USAID.
Strategic cooperation between Georgia and the United States and the partnership in trade, transport and energy were discussed on Saturday in a meeting between the Georgian Deputy Economy Minister Genadi Arveladze and Heidi Gomez, the US Deputy Assistant Secretary of State.
The European Union “strongly supports” the Black Sea submarine cable project, a new transmission route to deliver green energy from Azerbaijan to Europe, and hopes the South Caucasus will become a “very important” source of energy for Europe, Paweł Herczyński, the Ambassador of the European Union to Georgia, said on Thursday.
Officials from Georgia, Azerbaijan, Romania and Hungary on Thursday met in the Georgian capital city of Tbilisi to discuss various stages of the implementation of the Black Sea submarine electricity cable project, a new transmission route to deliver green energy from Azerbaijan to Europe, the Georgian Ministry of Economy announced.
Georgian Government officials and professionals from the Italian consulting company CESI on Tuesday visited western Georgia's Black Sea coastal town of Anaklia to select the approximate route and locations for the Black Sea submarine electricity cable project, an international initiative to connect the South Caucasus power grid to that of Europe.
The Business Universal programme of Georgia’s export promotion agency Enterprise Georgia now includes electricity production to increase financial availability of business loans for a "maximum number" of entrepreneurs.
Georgian Deputy Economy Minister Romeo Mikautadze on Tuesday said “optimal” development of renewable energy sources was the “cornerstone” of the national security, economic and political progress of the country.
Bilateral trade and economic ties between Georgia and Azerbaijan were discussed on Friday in a meeting between Georgian Economy Minister Levan Davitashvili and his Azerbaijani counterpart Mikayil Jabbarov.
Georgian Economy Minister Levan Davitashvili on Friday highlighted the importance of the Black Sea submarine electricity cable project, a new transmission route to deliver green energy from the South Caucasus to Europe, at the second Green Energy Advisory Council Ministerial Meeting in Baku.