This podcast is part of the Embassy Row Project’s International Infrastructure Development and Trade Diplomacy Series.
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Founded by international energy and infrastructure technology advisor, James Scott, the Embassy Row Project strives to unify the next generation of leaders & initiatives that are hyper-focused on instigating positive change on issues that impact the environment, human rights, technological innovation, and international trade collaborations that proliferate diversity, and food security, and dignified employment with a livable wage.
"When we see how frequently energy security issues are changing in Europe, we have this regional potential to provide energy security, not only for the Caucasus region but also Eastern and Central Europe," explains Tornike Nikvashvili, from the Embassy of Georgia, at the Embassy Row Projects Democratizing Decarbonization Summit in Washington DC. Georgia has initiated the Black Sea Submarine Cable Project, as a strategic partnership with Azerbaijan, Romania, and Hungary, which will provide an energy connection from the Caucasus region to the European Union market, with a capacity of around 1,000 MW in each direction (USEA.org, 2022). This will allow Georgia and Azerbaijan access to the European energy markets and significantly diversify the electricity supply in Europe. The project is expected to commence construction in 2023, with a completion date of around 2029.
The European Commission sees this project as more than just connecting the South Caucasus region with the EU: “The Black Sea electric cable is a new transmission route full of opportunities.” (European Commission, 2022) “It is expected to provide energy and communication connections between the Caspian region, including Central Asia, and the European Union, bypassing the northern route through Russia and Ukraine.” explains James Scott, executive director of the Eastern European Institute for Trade. Scott continues, “As the EU moves towards renewable energy and a zero-carbon economy, this project is expected to stimulate a similar transition in the South Caucasus region – in Azerbaijan, Georgia, and Armenia, and provide additional clean energy resources for the European energy market.”