The economy and energy ministers of Azerbaijan, Kazakhstan and Uzbekistan have signed a memorandum of understanding to merge the energy systems of the three countries.
The agreement, signed at the International Investment Forum held in Tashkent, Uzbekistan, commits the parties to exploring the possibilities of connecting their energy systems by laying a high-voltage cable along the bottom of the Caspian Sea, the world’s largest inland body of water.
A press release from the Kazakh government said that the basic approaches for the project’s implementation have been discussed and agreed upon. It said it is “fully ready for further full-fledged interaction.
Kazakhs Minister of Energy Almasadam Satkaliev said a proposed business model will now be developed, covering the financing, revenue flow and ownership of the proposed transmission corridors, which would look to sell green energy to EU member states. He said the three sides have drawn up draft technical specifications for laying a deep-sea cable beneath the Caspian Sea.
“The implementation of this document will catalyze our collective goals, particularly focusing on the production and export of green energy to Europe through Azerbaijan’s territory, the integration of energy systems and the effective utilization of renewable resources,” said Azerbaijani Minister of Economy Mikayil Jabbarov on X (formerly Twitter).
