Three countries sign a memorandum of understanding

Three companies from Georgia, Azerbaijan and Turkey signed a memorandum of understanding on Wednesday, creating the Azerbaijan-Georgia-Turkey Power Bridge Project. Representatives of AzerEnergy, the Georgian State Electrosystem, the Turkish Electricity Transmission Corporation and the US Energy Association (USEA) signed the memorandum at Sheraton Metechi Palace and said that the partnership brings the three countries together to discuss regional energy policy and develop models for the regions’ high voltage networks.

The Ministry of Energy of Georgia says that the Azerbaijan-Georgia-Turkey Power Bridge Project is a joint venture funded by USAID. As part of the collaboration, USAID and USEA will provide financial and technical assistance in the form of training and information exchanges. The group will analyze the high-voltage networks in the three countries to identify future investments required to support electricity trade and exchange while optimizing overall system security and reliability.

Georgian Energy Minister Alexander Khetaguri, who also attended the signing ceremony, said the project is very important for all three countries in the region. “This project has the potential to make a strong impact on Georgia and the Georgian economy. Ultimately, Georgia wants to sell green hydropower to EU countries. After working together on the oil and gas pipelines, our three counties are in a better position to solve the issue of our regional energy supply issues,” Khetaguri said. “This memorandum once more underpins and strengthens the projects which have already been completed in the oil and gas sphere. I mean the Baku-Tbilisi-Ceyhan and Baku-Tbilisi-Erzerum pipeline projects,” the Minister added.

US Ambassador to Georgia John Tefft stressed the support of the US for energy security projects in the Caucasus region. “The ultimate goal is to improve the energy grid in all three countries in an effort to support trade and exchange, increase reliability and attain energy security. The United States is pleased to be a partner in this effort. We believe firmly that access to affordable, reliable energy is a key to economic and social development. By working together these three countries will create jobs and stimulate investment and trade,” the Ambassador said.

Sulkhan Zumburidze, General Director of the Georgian State Electrosystem, thanked USAID and USEA for their support of the project. “This project we are starting now will enable us to better exchange our energy streams and increase our exports to neighbouring countries,” Zumburidze said

The Ministry of Energy of Georgia said that this project is the first occasion since the completion of the oil and gas pipelines when these countries have come together formally to discuss regional energy issues.