The energy operators of Azerbaijan, Georgia, Hungary, and Romania plan to sign an updated partnership agreement in green energy soon, Hungarian Prime Minister’s spokesperson Zoltan Kovacs wrote on X, Report informs.
Kovacs announced that the 8th ministerial meeting on the Black Sea Energy project, involving four countries, has commenced in Bucharest. Kovacs quoted Peter Szijjarto's speech.
“FM Peter Szijjarto announced that the project enabling the future import of green electricity from Azerbaijan and Georgia to Hungary and Romania is approaching a critical point of no return.
During a meeting in Bucharest regarding the Hungarian-Azeri-Georgian-Romanian green energy partnership, the minister emphasized the importance of energy security as a key element of national security in these challenging times.
FM Szijjarto outlined Hungary's energy strategy, which rests on four pillars: expanding nuclear capacity through the construction of two new reactors at the Paks nuclear power plant, significantly increasing solar energy capacity, seeking cooperation with reliable energy suppliers, and incorporating new supply routes.
He highlighted the Green Energy Corridor project as a prime example, which will introduce new green energy sources from Georgia and Azerbaijan, enhancing Hungary's sustainability in electricity consumption.
The minister noted that the project is advancing rapidly, with the participating countries' electricity companies forming a joint venture and plans to sign an amended green energy partnership agreement soon.
He expressed hope that the EU will provide financial support for the infrastructure development necessary for this endeavor, stressing that the success of such projects often depends on funding. The undersea cable, stretching 1,100 kilometers, will set a record for length and facilitate the import of green electricity once completed,” reads the post.