ASTANA: The Ministry of Energy of Kazakhstan is completely ready for further full-fledged cooperation with Azerbaijan and Uzbekistan for the export of green energy to Europe, Kazakh Minister of Energy Almasadam Satkaliyev said following the signing of a memorandum of cooperation on the integration of the three countries’ energy systems, Trend reports.

“To date, the basic approaches to implementing this project have been discussed and agreed upon,” the minister explained.

According to him, earlier, a draft feasibility study for laying a submarine cable along the bottom of the Caspian Sea was formed.

“The feasibility study entails the workout of a proposed business model for the development of international transmission corridors (financing, revenue flow, and ownership) and for the sale of 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 was developed between the ministries of
energy of the three countries,” the minister added.

Today, the ministers of energy of Kazakhstan, Azerbaijan, and Uzbekistan signed a memorandum of cooperation on the interconnection of the energy systems of the countries within the framework of the Tashkent International Investment Forum.

The aim of the signed memorandum is to define the basic conditions of cooperation within the implementation of the project for the interconnection of the energy systems of Azerbaijan, Kazakhstan, and Uzbekistan.

The document envisages the participants’ intention to explore opportunities for connecting energy systems by laying high-voltage cables along the bottom of the Caspian Sea and in the territories of other countries, implementing the most optimal trade in green energy from Azerbaijan, Kazakhstan, and Uzbekistan both technically and economically.

Source: Trend News Agency