“The initiative itself, as it was presented to the EU and partner nations, was a solely Georgian initiative. Together with Romania, we started the project implementation, which was joined by Azerbaijan, Hungary, and fully supported by the European Union. The cost of the Black Sea Submarine Electricity Cable project will be between $2 and $3 billion,” - Irakli Gharibashvili stated. 

To be reminded, on 17 December, Prime Minister Irakli Gharibashvili, Azerbaijani President Ilham Aliyev, Hungarian Prime Minister Viktor Orban, and Romanian Prime Minister Romania Nicolae Ciucă signed the agreement for the development of the 1,100-kilometer-long Black Sea strategic submarine electricity cable aimed at transporting energy from Azerbaijan to the EU passing through Georgia.