In his video address to the participants of the 12th International Caspian Energy Forum, EU Commissioner for Neighborhood and Enlargement Olivér Várhelyi has noted that the conducted events offer a valuable platform for discussing a range of topics of paramount importance not only for the South Caucasus, but also for Europe and Central Asia.

“Connecting our transport and energy networks have the potential to contribute to a more resilient and sustainable economies and to promote closer relations between our regions”, the EU Commissioner said, commenting transport and energy connectivity issues.

According to Olivér Várhelyi, located at the very center of the Trans-Caspian Corridor, the South Caucasus holds a strategic significance to ensure seamless connectivity between the Black Sea and Caspian Sea.

“Over the past years, the Trans-Caspian Corridor has been a significant trade route delivering freight from Central Asia to Europe. Recent projects show that trade volumes along the corridor are likely to triple by 2030”, Olivér Várhelyi noted.

In his address, the EU Commissioner offered to upgrade key transport connections between the Black Sea and the Caspian Sea to shorten travel and transit times.

“We need to continue focusing on developing an integrated multi-modal and digitalized transport network with the EU. In this context, our Eastern Partnership Economic and Investment Plan will remain instrumental to complete the extended indicative core TEN-T network and the Black Sea Connectivity flagships projects. These projects aim at establishing ferry connections and supporting digital connectivity”, Olivér Várhelyi added.

He has also stated that the natural gas supply from the Caspian region, in particular Azerbaijan, to the EU is more important than ever. It became a key source of alternative to the Russian supply, and it could grow even bigger, with the capacity increase of the Southern Gas Corridor.

According to the EU Commissioner, the Caspian region has a renewable energy potential that can contribute to decarbonisation and can create new jobs, cleaner infrastructure and a more resilient future. “We strongly encourage you to fully use this potential. The EU can offer know-how, technological expertise and financial support, as well as a very large and solvent market in need of cleaner energy”, Olivér Várhelyi pointed, saying “the Black Sea Electricity Cable, which is one of our key flagship projects under the Economic and Investment Plan, aims to create the conditions for trading in clean energy”.

“Stepping up the deployment of renewables, and particularly wind energy, has only become more important with the decision to organize COP 29 in Baku. The COP is an important window of opportunity, and my message to you is clear: the EU stands ready to work with you to step up renewable energy deployment and green connectivity ahead of the conference”, the EU Commissioner concluded.

Caspian Energy Club is a dynamic and developing regional organization bringing together over 5,000 companies and organizations across 50 countries. As an active participant of the business-to-government dialogue, the major objective of Caspian Energy Club is to improve investment and business climate in Azerbaijan and in other countries where the Club operates, as well as to encourage and actively engage in B2G, B2B and B2C dialogues.

Caspian Energy Club is an international business networking platform regularly conducting different events. Headquartered in Baku, Caspian Energy Club has representative offices operating in Czechia, Estonia, Finland, Great Britain, Germany, Georgia, Kazakhstan, Kyrgyzstan, Latvia, Poland, Türkiye, UAE, Uzbekistan as well as authorized representatives around the globe.

Caspian Energy Club International was established in 2023 with the aim to manage international projects of Caspian Energy Club. Within 5 years Caspian Energy Club International plans to open offices in 100 countries across the world. One of the major functions of Caspian Energy Club International is to manage the Club’s activity in countries where no representatives are present, and work out a general strategy for all foreign offices.