The submarine cable project to transmit electricity across the Black Sea will have a total capacity of 3 gigawatts and “set a world record for length,” Hungarian Foreign Minister Peter Szijjarto said on Saturday, MTI quoted him as saying.

Sigliarto said that the Italian company is preparing a feasibility study for the project worth 2.5 million euros, which is covered by the World Bank.

The studies should be completed by the end of next year, and then the construction works will “theoretically” last another 3-4 years, explained the head of Hungarian diplomacy.

President of the Republic of Azerbaijan Ilham Aliyev, Prime Minister of Georgia Iraklii Garibashvili, Prime Minister of Romania Nicolae Chuka and Prime Minister of Hungary Viktor Orban signed the Agreement on Strategic Partnership in the field of development and transportation of green energy in Bucharest on Saturday.

The document is based on the interests of the four states related to the consolidation of national and regional energy security and communication in the Black Sea basin, diversification of supply sources, capitalization of the potential of renewable energy production in the Caspian region and increasing the share of renewable energy in the national energy balance.

The quadrilateral intergovernmental agreement will provide the financial and technical basis for the implementation of a submarine cable project to transport electricity from renewable sources between Romania and Azerbaijan via Georgia and the Black Sea, and subsequently to transport this energy to Hungary and the rest of Europe.

The submarine cable project for the transmission of electricity across the Black Sea is part of the agreements in the field of energy agreed between the European Union represented by the European Commission and the Republic of Azerbaijan, and at the same time it is the flagship project for Georgia within the EU Global Gateway strategy. (Agerpress)

Viktor Orbán: You have to be rock and roll to make this submarine cable

The Prime Minister of Hungary stated that “we have a war in a neighboring country with Romania and Hungary, we have an energy crisis, all European economies are struggling with inflation, European leaders have decided to break away from the Russian economy. During this time in the United States, we have a set of measures to protect the economy that we have never seen before.”

“The times of importing cheap raw materials from Russia are over. We want economic growth and security. But we don’t have a new strategy, and in this situation, we as leaders must make sure that we provide economic and energy security to our peoples.

We are here together because we have agreed that the solution lies in identifying new sources of renewable energy for Europe. But this remains only a dream until real conditions for establishing connections appear. We have such sources all over Europe, and the Caspian Sea region is one such region,” said Viktor Orbán.

“We, in Hungary, are proud of the opportunity to participate in such a unique strategic investment, because it is becoming more and more important to be innovative and find innovative solutions. Now we are preparing to build the longest underwater power transmission cable. If I were 30 years younger, I would say that it is like rock and roll to build such a cable under water,” he also said about the energy agreement signed on Saturday in Bucharest.

This is Viktor Orbán’s first visit to Romania after he appeared last month wearing a red, white and green scarf with a map of Greater Hungary on it. Romania’s Ministry of Foreign Affairs reacted sharply, saying that “any manifestations of a revisionist type are unacceptable.”

• Link: VIDEO Bucharest Strategic Undersea Cable Agreement / Von der Leyen: a project full of possibilities