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.