The leaders of Azerbaijan, Georgia, Romania and Hungary signed an agreement on Saturday on the construction of an electric cable running under the Black Sea to carry green Azeri energy from planned Caspian Sea windfarms to Europe.
The agreement involves a 1,100 km , 1,000 MW cable running from Azerbaijan to Romania as part of wider European Union efforts to diversify energy resources away from Russia amid the Ukraine war.
Hungarian Foreign Minister Peter Szijjarto said the European Commission had earmarked 2.3 billion euros to support the construction of the cable, which would be the longest of its kind in the world, and Azerbaijan was inviting investors to build the turbines. He said a feasibility study would be completed by the end of 2023 on the cable project, which would then take three to four years to build.it plans to slightly increase its natural gas exports to Europe next year as Brussels seeks to replace falling energy supplies from Russia.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Four leaders sign agreement to bring green Azeri energy to EuropeThe leaders of Azerbaijan, Georgia, Romania and Hungary signed an agreement on Saturday on an underwater electric cable under the Black Sea to carry green Azeri energy to Europe.
Read more »
Intense four-alarm fire in Brooklyn rips through apartment building, injures four | amNewYorkA huge four-alarm fire at a Brooklyn apartment building on Friday evening left three residents and a firefighter injured, it was reported.
Read more »
Europe Data Points to Contraction but Economy Set to Avoid Worst-Case ScenarioEurope’s economy likely contracted at the end of 2022 but showed signs of resilience, suggesting the downturn could be milder than feared just a few months ago, business surveys showed
Read more »
'There are red lines': Europe warns of sanctions after Twitter bans journalists | CNN BusinessElon Musk's decision to suddenly ban prominent tech journalists from Twitter is fanning a fierce backlash in Europe.
Read more »
Suit: US ship canal dredging in summer threatens sea turtlesA conservation group has filed suit over a U.S. agency's planned timeframe for dredging a Georgia coast shipping channel, arguing that using powerful pumps to suck up harbor sediments in summertime would endanger rare sea turtles.
Read more »
Over 14M tonnes of grain exported via Black Sea corridor - Türkiye556 grain-loaded ships left Ukrainian ports under the deal brokered by Türkiye earlier this year, says the Turkish National Defence Ministry.
Read more »