Hungary, Romania, and Azerbaijan join forces for mega European energy project

Azerbaijan, Romania, and Hungary are working together to implement a mega European project involving the installation of a high-voltage power transmission line along the bottom of the Black Sea, Hungarian Prime Minister Viktor Orban said.

Speaking at a joint press conference with Georgian Prime Minister Irakli Kobakhidze in Tbilisi, Orban stated, "Azerbaijan, Romania, and Hungary are working in this direction. We have a joint venture, which is a decisive step forward. I hope this will be one of the most successful projects in the European Union."

The project's implementation will enable the EU market to be supplied with "green energy" via Georgia. Orban emphasized the significance of this endeavor, calling it "the largest project for the European Union, as the huge European plan involves supplying green electricity from the South Caucasus region to Europe."

The Hungarian Prime Minister expressed gratitude to the Georgian government, led by Prime Minister Kobakhidze, for their active work on the project implementation.

In early September 2024, energy operators from Georgia (Georgian State Electrosystem), Azerbaijan (Azerenerji), Hungary (MVM Zrt), and Romania (National Power Grid Company Transelectrica S.A) signed an agreement to establish a joint venture for the project, which involves laying a high-voltage electrical cable from Azerbaijan through Georgia and the Black Sea to Romania.

The governments of Georgia, Azerbaijan, Romania, and Hungary had previously signed an agreement in December 2022 for the cable installation, enabling electricity from Georgia and Azerbaijan to be transmitted to Europe.