EU Green Energy Corridor Meeting: Key Outcomes

A new ministerial meeting of the Steering Committee for the establishment of the EU Green Energy Corridor between Azerbaijan, Georgia, Romania and Hungary took place in Budapest on March 10. The event ended with significant results.

At the meeting, Azerbaijan was represented by Energy Minister Parviz Shahbazov, Hungary by Minister of Foreign Affairs and Trade Péter Szijjártó, Georgia by First Deputy Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili, Romania by Energy Minister Sebastian-Ioan Burduja, and Bulgaria by Energy Minister Zhecho Stankov. The meeting was also attended by representatives of the European Commission, the GECO Power Company Joint Venture and CESI.

Following the discussions, the four parties – Azerbaijan, Georgia, Romania, and Hungary signed a Joint Letter addressed to European Commissioner for Energy Dan Jørgensen. The purpose of the letter is to provide appropriate support for granting the status of a Project of Common Interest (PCI) to the Caspian-Black Sea-Europe Green Energy Corridor project.

Agreements were also reached on the inclusion of the project in the EU’s Ten-Year Network Development Plan (TYNDP), Bulgaria’s potential participation in the project, and necessary steps regarding the fibre-optic cable component.

The corresponding application for the project’s inclusion in the EU Ten-Year Network Development Plan (TYNDP) will be submitted by Transelectrica, between April 1 and May 9, 2025, the entire process being monitored together with the Green Energy Corridor Energy Company (GECO).

Bulgaria can play a key role in the development of the Green Energy Corridor project, Energy Minister Zhecho Stankov noted. “Our country has been supporting the initiative from the very beginning and we are starting the procedure of joining the project,” he added.

Bulgarian Energy Holding (BEH) will participate in corporate discussions for feasibility studies and will eventually acquire a stake in the project company.

 

Agreement between the Government of Romania and the Government of Hungary on security of gas supply in Europe

At the event, Sebastian Burduja, Romania’s Minister of Energy, and Péter Szijjártó, Hungary’s Minister of Foreign Affairs and Trade, signed the Agreement between the Romanian and Hungarian Governments on solidarity measures to safeguard security of gas supply in Europe.

On the sidelines of the solidarity agreement between Hungary and Romania, the amendment to the Interconnection Agreement between Hungarian TSO FGSZ and Romanian TSO Transgaz was also signed. The TSO parties agreed that in case of any extraordinary event the parties will effectively cooperate in order to maintain physical gas flow and continuous gas transmission between the two countries.

The signing of the agreement, which is part of the EU’s obligations between neighbouring countries, is a clear statement of the strength that cooperation between neighbouring countries can bring. The goal of the Agreement between the Government of Romania and the Government of Hungary on solidarity measures to ensure security of supply is to create an efficient and stable cross-border framework to guarantee security of gas supply on the internal market of the European Union, allowing a rapid response to sectoral circumstances, which may be highly volatile. The provisions only become applicable in cases of force majeure and support can only be granted insofar as it does not affect the internal market.

“The agreement we have signed today reinforces our commitment to our goals and sets a real example for other European countries, an example of the power of cooperation and the need for interconnectivity. At regional level, it is particularly important to conclude solidarity agreements, further develop infrastructure projects, strengthen interconnections and diversify the energy mix, taking into account national specificities. By deciding to boost energy interconnections between Romania and Hungary, our governments are keeping their promises to our citizens to provide secure and affordable energy. The security of energy supply, which takes precedence over all other factors of a healthy energy sector, must be achieved by developing infrastructure projects, strengthening interconnections and diversifying the energy mix,” Sebastian Burduja said.

“The Gas Solidarity Treaty sets out ways to provide emergency assistance and further improves our energy security. Romania has significant regional storage capacity and access to alternative gas sources. On the other hand, Romania has significant extraction capacities that will be further expanded in the future,” Péter Szijjártó said.

The Green Corridor project represents an important step in the development of a modern and sustainable energy infrastructure for all countries involved and is an essential contribution to strengthening national and regional energy security, increasing connectivity in the Black Sea basin, diversifying supply sources, harnessing the potential of renewable energy production and increasing the share of renewable energy in the national energy mix. At the same time, the Corridor has tremendous potential to contribute to the security of supply of the whole of Europe, especially in the current geopolitical context.

This project can become a gateway for energy resources from the Caspian and Black Sea areas through the development of smart transmission networks to introduce significant volumes of green energy.