The agreement involves a cable running beneath the Black Sea that would link Azerbaijan to Hungary via Georgia and Romania
The deal comes as Hungary, which has lobbied heavily against EU sanctions on Russia for its war in Ukraine, is seeking additional sources for fossil fuels to reduce its heavy dependence on Russian oil and gas.
The office of Romanian President Klaus Iohannis said in a statement Friday that the agreement between the four nations will provide the “financial and technical framework” for the undersea electricity cable project. 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.
Szijjarto said the project could be completed within three or four years, and that it would be a major step toward diversifying energy supplies and meeting carbon neutrality targets.
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