Azerbaijan to apply for EU Project of Mutual Interest status for Black Sea Energy corridor

Azerbaijan will submit an application in the coming days to grant the Caspian–Black Sea–Europe Green Energy Corridor (Black Sea Energy) the status of Project of Mutual Interest (PMI) of the European Union, Minister of Energy Parviz Shahbazov said at the Second Azerbaijan International Investment Forum (AIIF 2026) in Baku, Report informs.

According to him, the feasibility study for the corridor, which has a total transmission capacity of approximately 4 gigawatts, confirmed the technical and economic viability of the project: "The goal is to reach a final investment decision in 2029, with the corridor to be commissioned in phases between 2032 and 2040. This corridor, connecting Azerbaijan with Hungary, has been included as a single project in the 10-Year Network Development Plan of the European Network of Transmission System Operators for Electricity (ENTSO-E). Once fully commissioned, the corridor is expected to enable the export of over 20 terawatt-hours of electricity."

He noted that the strategic importance of the project extends beyond the volumes of transmitted electricity.

"Extending from the Caspian Sea to Europe, this corridor will connect not only energy systems but also economies and investment opportunities, contributing to the development of interregional cooperation, the diversification of Europe's energy supply, and the transition to clean energy," the minister stated.