The leaders of Hungary, Romania, Georgia, and Azerbaijan have finalized an agreement on an undersea electricity connector that could become a new power source for the European Union amid a crunch on energy supplies caused by the war in Ukraine.
Hungarian Prime Minister Viktor Orban shakes hands with Romanian President Klaus Iohannis as European Commission President Ursula von der Leyen smiles at the Cotroceni presidential palace in Bucharest, Romania, Saturday, Dec. 17, 2022.
Azerbaijan plans to export electricity from offshore wind farms to Europe via Georgia, a cable beneath the Black Sea, and then to Romania and Hungary. On Friday, Romanian natural gas producer Romgaz also said it signed a contract with Azerbaijan’s state oil company SOCAR to receive natural gas through the so-called southern gas corridor, with deliveries set to start on Jan. 1. Romgaz said it will serve its “strategic objectives” of diversifying natural gas sources.
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