Heads of the Ministries of Energy of Kazakhstan, Azerbaijan, and Uzbekistan signed a memorandum of cooperation on the interconnection of the energy systems of the republics during the Tashkent International Investment Forum on May 1.
According to the press service of the Ministry of Energy, the purpose of the signed memorandum is to define the key conditions for cooperation in the implementation of the project on the interconnection of the energy systems of Azerbaijan, Kazakhstan, and Uzbekistan.
"The document implies that the participants intend to explore the possibilities of connecting energy systems by laying a high-voltage cable along the bottom of the Caspian Sea and in the territories of other countries to facilitate the most optimal trading of green energy from Azerbaijan, Kazakhstan, and Uzbekistan from a technical and economic perspective," the statement said.
Minister of Energy of Kazakhstan, Almasadam Satkaliyev, noted that a technical task project for laying a subsea cable along the Caspian Sea bottom had been previously developed.
"Within the technical task, a proposed business model will be developed for the development of international transmission corridors (financing, revenue flow, and ownership) and for the sale of green energy to the countries of the European Union. Based on the above, a project of a memorandum of cooperation on the interconnection of the energy systems of Azerbaijan, Kazakhstan, and Uzbekistan was elaborated between the energy ministries of the three countries," he said.
According to the head of the Ministry of Energy of Kazakhstan, the basic approaches to the implementation of this project have already been discussed and agreed upon today, and the Kazakhstani authority is fully prepared for further comprehensive cooperation.
Previously, the Ministry of Energy developed a Concept for the Development of Hydrogen Energy in the Republic of Kazakhstan until 2040.
