BUDAPEST, Hungary, May 20. The project of laying an electric cable under the Caspian Sea with the participation of Azerbaijan, Kazakhstan and Uzbekistan will be an important contribution to the energy security of Europe, the expert-economist, senior researcher of the Hungarian Institute of International Relations and Trade, Professor Vasa László told reporters, Trend reports.
He made the remark on the sidelines of the informal summit of the Organization of Turkic States (OTS) in Budapest.
"It is planned to build an undersea cable along the Caspian Sea bed, which will enable the transmission of electricity from power plants that operate predominantly on green energy. This project will be an important contribution not only to the energy security of Hungary and Central Europe, but also of the entire continent," he said.
Vasa noted that in the energy sector, Azerbaijan became a key alternative gas supplier to Hungary after the outbreak of war in Ukraine, when Europe decided to reduce its dependence on Russian energy resources.
According to him, the partnership between the two countries goes beyond the traditional model of gas and hydrocarbon exports. A truly innovative project is also being implemented - to supply “green” electricity from Azerbaijan to Central Europe.
“This is a unique initiative in scale and significance, involving not only Azerbaijan and Georgia, but also countries such as Uzbekistan and Kazakhstan, which have expressed interest in joining the emerging energy system,” he concluded.