Economy Minister: Trans-Caspian Route, Green Energy Corridor projects “important” for energy independence of Georgia, Europe

Georgian Economy Minister Levan Davitashvili on Tuesday highlighted the importance of the Middle Corridor of the Trans-Caspian International Transport Route, which is aimed to connect supply chains and logistics between China and Europe, and the Green Energy Corridor project for energy independence of both Georgia and Europe.

In his comments at the ongoing United Nations Climate Change Conference in Azerbaijan’s capital city of Baku, Davitashvili said the Green Energy Corridor project also included the Black Sea submarine electricity cable project, a new transmission route to deliver green energy from Azerbaijan to Europe, allowing the country’s energy sector to be “more attractive to investors”.

I think that the presentation of this project within the COP is very symbolic, because the agenda that exists in the world today in climate change mitigation is closely related to the green energy, energy policy, because we understand that one of the important contributors to climate change in the world in general is the energy sector”, he said.

In the case of Georgia, more than 60 percent of the impact comes from the energy sector in terms of climate, therefore, it is very important that the matters on the global agenda, which are related to the reduction of greenhouse gases, are realised within such projects which Georgia, Azerbaijan, Romania and Hungary are implementing jointly”, he added.

The Minister said the cable initiative was a “very important project” for Georgia from the energy and economic points of view, adding that with its planned implementation the economic landscape in the South Caucasus was “changing very significantly”.

He emphasised the “global importance” of the project by saying it extended beyond a regional initiative, with later stages planned to connect with Central Asia and other parts of the continent.

Davitashvili also said electricity transmission was “no longer confined to regional boundaries” through technological advances, and noted  more countries had joined the global energy network, which not only enhanced the competitiveness of those involved but also brought “significant economic benefits to each participating country”.