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Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
Tbilisi, November 21 (Xinhua) — "The Black Sea submarine cable project is already in the process of obtaining special status in the European Union. This status is key to attracting the EU's financial support, which is necessary for the initiative's implementation," Georgian Deputy Minister of Economy and Sustainable Development Inga Pkhaladze said on Wednesday.
She noted that Georgia is simultaneously promoting two major projects that are important for Europe's energy security: the Black Sea Submarine Cable, which will allow electricity exports from Georgia to Romania, and the larger Green Energy Corridor, which is being implemented jointly with Azerbaijan, Romania, and Hungary.
"These projects offer Georgia a real opportunity for a direct energy connection to Europe and create the conditions for transforming our country into an important energy hub between East and West," emphasized I. Pkhaladze.
According to her, the submarine cable, which is over 1,155 kilometers long and has a capacity of 1,300 MW, has been deemed technically feasible, and seabed surveys are in the active phase. "Obtaining this status will open access to significant financial assistance, including grants. The total cost of the submarine cable project is €3.5 billion," the deputy minister explained.
Speaking about the Green Energy Corridor project, Irina Pkhaladze said it entails the installation of three cables with a total capacity of 4,000 MW, the creation of a joint venture, and a study on the feasibility of constructing a hydrogen pipeline. Investments are estimated at €20-24 billion.
"The private sector is actively interested in the projects, and we see great potential for attracting investment. At the same time, we are updating the 10-year energy strategy to precisely define the necessary capacity and infrastructure and make Georgia a net exporter of renewable energy to Europe," added Irina Pkhaladze.
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