BAKU, Azerbaijan, June 24. The success of the
Trans-Caspian Energy Corridor and the Black Sea Energy
Interconnector will depend not only on the start of electricity
supplies, but also on investor confidence and effective risk
management, according to an industry expert, Trend’s correspondent
reports from the event.
Speaking at the Azerbaijan International Insurance Forum in
Baku, Dmitro Gamankov, Senior Underwriter for Central and Eastern
Europe and International Markets at VIG Re, said the insurance and
reinsurance sector should focus on preventing risks at the early
stages of project development rather than assessing losses after
they occur.
He stressed the importance of reducing uncertainty around
potential risks and establishing continuous risk preparedness from
the outset of infrastructure projects.
Gamankov said energy corridors play a broader role beyond energy
security, contributing to stronger regional ties, improved digital
connectivity, and expanded cross-market cooperation.
He added that industry participants should move beyond
discussions on claims and insurance exclusions and instead focus on
developing risk management tools during the project preparation
phase.
According to him, the Trans-Caspian and Black Sea projects
should not be judged solely by the commencement of electricity
transmission.
“A project is successful when trust begins to flow through the
right channels, translating into investments in the right
directions and at the right time,” he said, adding that this
reflects the insurance and reinsurance industry’s approach to
large-scale infrastructure development in the region.
