The project of a submarine cable under the Black Sea, which will ensure the export of Azerbaijani electricity to Europe, is designed to increase the level of energy security of the countries of the continent, Andrei Covatariu, senior research associate at the Energy Policy Group (EPG) in Romania, told Report.
"If successful, the project brings significant value for both parties. For Europe, the project would mean both an additional source of green energy and a significant increase in its energy security level," he noted.
“I think that apart from reinforcing the commitment of the members involved, these meetings are also meant to continuously assess the ongoing developments, especially from the European side. The proposal for the energy market design, but also EU’s aim to develop its own manufacturing industry, are important updates to consider for this future project, that actually reinforces the need of the project."
“While there are clear benefits in the long-term, there was and still is a valuable outcome in the short run, as it shows the increasing options that the European Union has in ensuring its energy needs, while also supporting the economic growth of its trusted partners,” the expert said.
"The project is, of course, challenging, especially during these years, when Europe is focusing on ramping up renewable capacities, while also developing its own clean manufacturing sector. Additionally, it’s not an easy project, from a construction point of view.
But indeed, once built, the project would make possible the share of renewable energy, in both ways (as Romania and Bulgaria are also looking into offshore wind capacities and even an energy island). In this way the natural potential on both sides of the Black Sea can be harvested, translating into more baseload-like energy generation," he added.