MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Minister of Economy and Sustainable Development, Mariam Kvrivishvili, alongside the high-level representatives of the governments of Azerbaijan, Romania and Hungary, participated in the 12th Ministerial Meeting on the Green Energy Corridor. The event took place in Baku, the capital of Azerbaijan.

During the 12th Ministerial, the parties approved the key reports of the feasibility study, bringing the feasibility assessment of the Green Energy Corridor project close to its completion. Additionally, a detailed action plan was developed to outline the future steps of the project.

As the Minister noted, the parties discussed current opportunities and the growing role of the region in strengthening the energy security of the European Union.

“Georgia participated in the Green Energy Corridor Ministerial together with Romania, Hungary, and Azerbaijan. We discussed the opportunities available globally within the energy sector and highlighted how rapidly our region’s role is growing in terms of strengthening the EU’s energy security.

Georgia and Azerbaijan continue to cooperate closely to ensure that through joint efforts, both within the context of the green corridor between them and through ongoing energy reforms and general sector development perspectives in our countries, we join our forces and contribute to enhancing the energy security of the EU. Within the framework of the meeting, we had the opportunity to comprehensively discuss Georgia’s energy policy and the 10-year development plan formulated by the Government of Georgia for the sector. Our objective is to attract investments into this field so that, first and foremost, Georgia becomes self-sufficient in terms of electricity generation, while on the other hand, we attach immense importance to expanding the export potential of our energy resources,” – Mariam Kvrivishvili stated.

Kvrivishvili further explained that a project of national significance for Georgia, such as the Black Sea Submarine Cable project, has entered a new phase of development.

“The Black Sea Submarine Cable is a project of national importance for our country, which is a Georgian initiative, and its development is progressing in a very active phase. We have already completed the feasibility study. Now, we are transitioning to the next phase, which involves direct seabed surveys, allowing us to actively advance the direct development of the Black Sea Submarine Cable project,” – the Minister of Economy and Sustainable Development declared.

Within the framework of the event, the parties addressed the EU institutions with a joint letter, emphasizing the strategic importance of the project and the necessity of continued cooperation for its realization.

The budget of the GECO Power Company was also approved during the Ministerial, and current as well as planned activities were reviewed. The parties agreed that establishing a regulatory cooperation framework is essential for the successful implementation of the project.

Alongside Mariam Kvrivishvili, the Minister of Economy and Sustainable Development, the Ministerial was attended by Parviz Shahbazov, the Minister of Energy of Azerbaijan, András Tóth, the State Secretary of the Ministry of Economy and Energy of Hungary and Cristian Bușoi, the State Secretary of the Ministry of Energy of Romania.

The meeting was also attended by the Deputy Ministers of Economy and Sustainable Development, Inga Pkhaladze and Genadi Arveladze, as well as Zviad Gachechiladze, Member of the Board of Directors and Director for International Relations, Market Development and Metering of the Georgian State Electrosystem (GSE).