Energy Cooperation25 May 2018 13:14
Today’s traditional South Caucasus Energy Summit, co-organized as EU4Energy High-level Policy Talk in Tbilisi was dedicated to the development of energy infrastructure and connectivity in the South Caucasus Region. Gathering together ministers and senior officials from Armenia, Azerbaijan, Georgia as well as representatives of international organizations and donors, the event highlighted opportunities for regional energy projects, thus enhancing energy security and supporting the sustainability of gas and electricity supply in the region.
Opening the conference, Mr Dimitry Kumsishvili, First Vice Prime Minister, Minister of Economy and Sustainable Development of Georgia, said: “It is widely acknowledged that small national markets, where demand and generation capacities are not adjusted and seasonal misbalance is prevalent, are faced with severe risks and suffering from energy insecurity. Against this background, regional cooperation embracing the both technical and regulatory dimensions is of paramount importance in the South Caucasus and its neighborhood to ensure security of supply”
Mr Mathieu Bousquet, Head of Unit, DG NEAR, European Commission, said: “The European Union is committed to work with our partner countries in the region towards stronger connectivity which will bring Security of supply. It requires an identification of the strategic projects to invest in, the financing of these projects and at the same time pursuing legal and regulatory reforms that make the market efficient and transparent. We are helping governments in transforming this challenge into an opportunity for economic development and better services for citizens.”
Mr Janez Kopač, Director of the Energy Community Secretariat, said: “Today’s event clearly showed opportunities of a better connectivity in a cross-border energy cooperation in the region. Leveraging on the experience of Transmission System Operators and International Financial Institutions, we were able to indicate benefits such cooperation would bring to the region.”
The High-level Policy Talks are organized under the auspices of the EU4Energy Governance* Project in cooperation with the Ministry of Economy and Sustainable Development of Georgia and USAID Governing for Growth in Georgia. The event brought together over 50 stakeholders, including financial institutions, authorities, gas and electricity transmission system operators and cross-border traders.
Sign In
Follow the stocks
