Important agreements on Green Energy Corridor reached in Budapest

The Budapest meeting of the Ministers of Azerbaijan, Georgia, Romania, and Hungary on the establishment of the Green Energy Corridor concluded with significant outcomes, Azerbaijan's Minister of Energy Parviz Shahbazov said in a post on X.

According to Report, he noted that it agreed to complete the feasibility study by the end of March and, at the next stage, to implement the measures to be carried out by the Green Energy Corridor Energy Company (GECO) for the development of the project.

"Also, in accordance with the concept of the Intergovernmental Agreement, an understanding was reached between the Green Energy Corridor and Black Sea Submarine Cable projects on the exploration and development of technical and strategic synergies to increase cross-border transmission capacity and regional energy connectivity. For this purpose, a Working Group consisting of Deputy Ministers and GECO representatives was tasked with preparing relevant proposals and presenting them at the next meeting," the minister said.