The territory stretching from Central Asia, the South Caucasus, the Middle East, and Türkiye to Europe through the Black Sea region is becoming a single geopolitical space, and Azerbaijan is serving as a bridge in this area, Azerbaijan’s Deputy Energy Minister Orkhan Zeynalov said while speaking at the 31st Baku Energy Forum, APA-Economics reports.
According to him, the recent energy crisis once again demonstrated how important the Middle Corridor and the energy corridor passing through Azerbaijan and Central Asia are for global security and regional energy security, and how positively they can influence regional prices.
“Returning to interconnection projects, I would like to note that today we are implementing several major projects with partners from Central Asia, Georgia, Türkiye, Bulgaria, Romania and Hungary. Some of them are already at a very advanced stage. One of these projects – the Caspian–Black Sea–Europe energy interconnection project – will soon complete its feasibility study. This project will provide Eastern Europe and Southeastern Europe with much-needed energy in the coming years,” the deputy minister said.
According to him, there are, of course, technical and commercial issues that must be considered in parallel. First of all, the technical sustainability of the project must be ensured so that this cross-border project maintains the stability of the power grid, does not negatively affect the security of the energy system, and meets all technical requirements. In this regard, the results of the feasibility study are highly useful.
“At the same time, the next stage is to determine the commercial viability of the project. What advantages will the project offer potential buyers? How will it affect energy prices at reception points in Europe? We believe that these projects can have a positive impact on end-user prices in Europe in the coming years,” Orkhan Zeynalov emphasized.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
