The fourth Ministerial Meeting on the implementation of the Agreement on a strategic partnership in the field of green energy development and transmission between the Governments of the Republic of Azerbaijan, Georgia, Romania and Hungary was held in Bucharest, Romania.

Azerbaijan was represented at the event by Energy Minister Parviz Shahbazov, Georgia by First Deputy Minister, Minister of Economy and Sustainable Development Romeo Mikautadze, Romania by Energy Minister Sebastian Ioan Burduja, Hungary by the Minister of State for Security Policy at the Ministry of Foreign Affairs and Trade of Hungary Peter Sztaray. Representatives of Bulgaria and the European Commission also attended the meeting.

At the meeting, a Memorandum of Understanding on the establishment of a joint venture was signed between the four countries participating in the agreement. The joint venture, established under the memorandum with the participation of system operators from the respective countries, will be responsible to the Steering Committee, being the body responsible for the implementation of the project envisaging the green energy transmission from the Caspian Sea to Europe under the agreement.

At the meeting, it was noted that the feasibility study of the initial stage of the project on the Black Sea will be completed in October this year, and it was also agreed that the technical assignment of the Caspian Sea-European Union Green Energy Corridor was approved and the preparation of the feasibility study of the project was entrusted to AREA

At the end, a protocol was signed on the results of the fourth Ministerial Meeting on green energy development and transmission and the next meeting was agreed to be held in Budapest, Hungary.

It was noted that the agreement on a strategic partnership in the field of green energy development and transmission between the Governments of the Republic of Azerbaijan, Georgia, Romania and Hungary has been signed in Bucharest on 17 December 2022 by President of the Republic of Azerbaijan Ilham Aliyev, Prime Minister of Romania Nicolae Ciuca, Prime Minister of Georgia Irakli Garibashvili and Prime Minister of Hungary Viktor Orban with the participation of President of the European Commission Ursula von der Leyen.