Azerbaijan collaborates with global allies on cable project beneath Black Sea: minister

Azerbaijan is closely collaborating with the World Bank, the Asian Development Bank, and other global partners to effectively execute the initiative of laying a cable beneath the Black Sea, Samir Sharifov, Azerbaijan's Minister of Finance and Governor for Azerbaijan at ADB, said, Azernews reports.

During the panel discussion "Middle Corridor: Rebuilding the ties between Europe and Asia," Samir Sharifov, Azerbaijan's Minister of Finance and Governor for Azerbaijan at ADB, highlighted Azerbaijan's active involvement in the project. He emphasised the immense renewable energy potential of the Caspian Sea region.

Sharifov articulated that the primary objective of the project is to transport electricity through the seabed, thereby enhancing the energy generation capabilities of both Georgia and Azerbaijan.

Regarding Azerbaijan's stance, he emphasised the nation's commitment to an energy transition strategy, aiming to gradually replace fossil fuel-based electricity generation with renewable energy sources.