Kazakhstan, Uzbekistan, and Azerbaijan signed a memorandum of cooperation to interconnect their national energy systems along the Caspian Sea bed, QazMonitor reports citing the Ministry of Energy.
What happened: On May 1, the heads of the energy ministries of the three countries, Almassadam Satkaliyev of Kazakhstan, Jurabek Mirzamahmudov of Uzbekistan, and Parviz Shahbazov of Azerbaijan, signed a memorandum of cooperation at the Tashkent International Investment Forum. This memorandum explores the feasibility of connecting their energy systems by laying a high-voltage cable on the Caspian Sea bed.
As part of the terms of reference, an envisioned business model will be developed to establish international transmission corridors (including financing, revenue streams, and ownership) and sell green energy to European Union countries. Based on the above, a draft memorandum of cooperation on the interconnection of the energy systems of Azerbaijan, Kazakhstan, and Uzbekistan has been elaborated between the Ministries of Energy of the three countries.
Previously, the parties agreed to lay a submarine communications cable along the Caspian Sea bed. As of now, they have discussed and reached an agreement on the basic approaches for implementing the project.