Georgian Economy Minister Levan Davitashvili highlighted the importance of the Black Sea submarine electricity cable project, a new transmission route to deliver green energy from the South Caucasus to Europe.
"Governments of Georgia, Azerbaijan, Romania and Hungary discussed the progress of the project and the key issues, details of the establishment of the joint company for the initiative and steps for the further development of the project," the Georgian economy ministry said.
According to the minister, the project would contribute to strengthening of energy security, diversification of supply routes, attraction of foreign investments, as well as the development of green energy not only in Georgia but also in the wider region.
Davitashvili highlighted Georgia was trying to develop existing resources and diversify import sources to achieve energy security in parallel with the increasing energy consumption every year, and noted the country was expanding its role as a transit country not only in transit of hydrocarbons, but also in electricity.
