BAKU, Azerbaijan, June 2. The feasibility study
for the “Caspian Sea–Black Sea–Europe” power grid project is
expected to be completed shortly; the project is intended to
provide additional energy supplies to the countries of Eastern and
Southeastern Europe, Azerbaijan’s Deputy Minister of Energy, Orkhan
Zeynalov, said during a panel discussion held as part of Baku
Energy Week, Trend
reports.
“Today, Central Asia, the South Caucasus, the Middle East via
Türkiye, as well as the Black Sea region all the way to Europe are
becoming a single geopolitical space, and Azerbaijan plays the role
of a bridge within it,” he noted.
The Deputy Minister also recalled that the recent global energy
crisis demonstrated the importance of the Middle Corridor and
energy routes through Azerbaijan and Central Asia for global and
regional energy security, as well as their impact on price
dynamics.
He announced that Azerbaijan is currently implementing several
interconnected projects in collaboration with partners from Central
Asia, Georgia, Türkiye, Bulgaria, Romania, and Hungary, some of
which are at an advanced stage.
According to him, the feasibility study confirms the technical
viability of the project; however, further work involves addressing
commercial and regulatory issues, as well as ensuring the
reliability and stability of the power system, including grid
security.
He noted that the next step is to achieve the project’s
commercial viability, including an assessment of the economic
benefits for participants and the ultimate impact on electricity
prices in Europe.
“We believe that in the coming years this could have a positive
impact on prices at European end-use points,” he added.
