“Georgia is expanding its role as a transit country not only in the direction of hydrocarbon transit, but also in terms of electricity transmission. In particular, Georgia has the opportunity to connect directly with the European energy systems through the planned Black Sea submarine cable,” - Jubo Turashvili, the head of the Energy Policy and Investment Projects Department of the Ministry of Economy and Sustainable Development of Georgia, said during his speech at the Caspian Business Forum, which was held in New York, USA. He took part in the panel of the forum, discussing the transit of energy resources of the Caspian region through the Middle Corridor.
“The representative of the Ministry of Economy and Sustainable Development drew attention to the strategic location of Georgia and noted that the country is ready to make a significant contribution to Europe's energy security. Georgia is a reliable transit partner country. It aims to further strengthen its transit function. The country is an important part of the chain of providing continuous and safe transit across the South Caucasus, which contributes to the energy security of the European Union by diversifying sources and routes," - Jubo Turashvili noted.
In his speech, the head of the Energy Policy and Investment Projects Department of the Ministry of Economy and Sustainable Development spoke in detail about the already existing transit routes, including the Southern Gas Corridor, the expansion of which is an important driving force for the EU to increase the diversification of gas supply and the overall security of energy supply. Turashvili also focused on the possibilities of attracting oil transit flows from Central Asia to the Middle Corridor.
The progress of the Black Sea submarine cable project aroused great interest among the forum participants.
"This is a flagship project in the region, which aims to strengthen regional connectivity. The cable connecting the electrical systems of Georgia and Romania will allow the export of green energy produced in Georgia and the entire region to the European markets. This project will significantly increase the power exchange opportunities between the South Caucasus and Europe. It has a great potential to promote the development of renewable energy sources in Georgia and the wider region," said Jubo Turashvili.
As Jubo Turashvili stated, the expansion of the electricity market towards Europe will encourage investments in production and transmission infrastructure, help create jobs in construction and maintenance and thus promote the economic growth.
0
0
