The President of the European Commission, Ursula von der Leyen, will be present, on Saturday, at the Cotroceni Palace, at the signing ceremony of the Agreement between the governments of the Republic of Azerbaijan, Georgia, Romania and Hungary regarding the Strategic Partnership in the field of green energy development and transport.
The agreement will be signed by the president of the Republic of Azerbaijan, Ilham Aliyev, and the prime ministers of the governments of Georgia, Irakli Garibashvili, of Romania, Nicolae Ciuca, and of Hungary, Viktor Orban, announced the Presidential Administration.
The document is based on the interests of the four states related to the consolidation of national and regional energy security and connectivity in the Black Sea basin, the diversification of supply sources, the capitalization of the potential of renewable energy production in the Caspian area and the increase of the share of renewable energy in the national energy mix, the Presidential Administration says in a press release.
The quadrilateral intergovernmental agreement will provide the financial and technical framework for the realization of the project of the submarine cable for the transport of electric energy from renewable sources between Romania and Azerbaijan, via Georgia and the Black Sea, and, subsequently, for the transport of this energy to Hungary and the rest of Europe.
According to the press release, the project of the submarine electric power transmission cable through the Black Sea is part of the agreements in the field of energy agreed between the European Union, represented by the European Commission, and the Republic of Azerbaijan, at the same time being a flagship project for Georgia, as part of the EU Global Gateway strategy.