Bulgaria Eyes Joining Black Sea Submarine Cable Project in Strategic Partnership with Azerbaijan

Bulgaria seeks to partner with Azerbaijan on a Black Sea Submarine Cable Project, aiming to enhance energy cooperation and sustainability.By Rizwan Shah, BNN Breaking
March 4, 2024

Bulgaria announces participation in the Black Sea Submarine Cable Project with Azerbaijan, highlighting energy cooperation and a shared vision for a sustainable future.

During a notable meeting with President Ilham Aliyev of Azerbaijan, Rosen Dimitrov Zhelyazkov, the President of the National Assembly of the Republic of Bulgaria, expressed Bulgaria's intent to participate in the Black Sea Submarine Cable Project. This move underscores the burgeoning strategic partnership between Bulgaria and Azerbaijan, highlighting their mutual interests in energy cooperation and green initiatives.

Strengthening Bilateral Ties

Zhelyazkov lauded the evolution of relations between the two nations, anchored in strategic partnership. He emphasized the active collaboration of their parliamentary delegations across international institutions. Furthermore, Zhelyazkov applauded Azerbaijan for its role in hosting COP29, shedding light on the country's commitment to green and renewable energy projects. This is particularly noteworthy given Azerbaijan's abundant fossil fuel reserves, demonstrating a significant pivot towards sustainable energy solutions.

Energy Cooperation and Future Endeavors

The dialogue between Zhelyazkov and Aliyev also touched upon the successful energy collaboration between Bulgaria and Azerbaijan. This partnership has yielded substantial benefits for both countries, setting a precedent for future cooperative ventures. Among these, the construction of the Sunrise solar power plant in Jabrayil, Azerbaijan, is a project of note, slated for completion by the end of 2025. This initiative aligns with the countries' shared vision for a greener future and marks a significant milestone in their energy sector collaboration.

Azerbaijan's Economic Milestones

In a related development, Azerbaijan has witnessed a notable increase in its oil prices, with the Azerbaijani oil price exceeding $87. This economic achievement underscores the country's robust position in the global energy market and its capacity to fund and support renewable energy projects and infrastructural developments like the Black Sea Submarine Cable Project. Such endeavors not only bolster Azerbaijan's economic stature but also contribute to regional energy security and connectivity.

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