Türkiye, Azerbaijan, Bulgaria, and Georgia signed on Friday a deal under a project aimed at modernizing power transmission systems, enabling the trade of electricity produced from renewables and boosting energy security.
The memorandum of understanding (MoU) marks the first concrete step under the "Green Electricity Transmission and Trade Project," Turkish Energy and Natural Resources Minister Alparslan Bayraktar said.
The agreement came on the sidelines of the 11th Ministerial Meeting of the Southern Gas Corridor Advisory Council and the 3rd Ministerial Meeting of the Green Energy Advisory Council in Baku, Azerbaijan.
The deal was signed by Bayraktar, Azerbaijan's Energy Minister Parviz Shahbazov, Bulgaria's Energy Minister Zhecho Stankov and Georgia's Deputy Minister of Economy Vakhtang Tsintsadze.
The foundations for the project were laid at the Istanbul Energy Forum last year. Bayraktar said the four countries will be connected through new interconnection lines.
"This will make the cross-border transmission and trade of electricity produced from renewable energy sources possible," he wrote on social media platform X.
Once the project is implemented, transmission systems will be modernized, the production infrastructure will operate more efficiently, and energy security will increase, Bayraktar noted.
Bayraktar emphasized that the strategic cooperation would make significant contributions to the energy future of the region in terms of sustainability, efficiency, and integration.
"I hope our agreement will be beneficial for Türkiye and all the parties involved," he said.
Separately on Friday, Türkiye's Electricity Transmission Corporation (TEIAŞ) and Azerbaijan's largest electrical power producer, Azerenerji, signed an operating agreement to enhance energy cooperation.
After oil and natural gas, electricity trade could also become an important part of bilateral cooperation between Türkiye and Azerbaijan, said Bayraktar.
"After our meeting with Mr. Shahbazov, we signed an operating agreement between TEIAŞ and Azerenerji, which will further advance our energy cooperation," he wrote on X.
He added that the agreement will ensure uninterrupted and reliable electricity transmission between Türkiye and Nakhchivan enclave, while also bringing modernization of existing infrastructure and increasing capacity.
Bayraktar also emphasized that the bridge of energy between the two brother countries will open the door to a new era in regional energy cooperation.
Addressing the ministerial meeting in Baku, Bayraktar the Southern Gas Corridor, a collaborative energy project involving Azerbaijan, Georgia, Türkiye, and Bulgaria, has the potential to become a leading regional green energy network.
"Today's discussions include the full utilization of the capacity of the Southern Gas Corridor as well as to establish a new initiative on the power side," he said.
"Azerbaijan, Georgia, Türkiye, and Bulgaria [are] jointly working on developing this project which has the potential to be one of the great examples of regional green energy corridors in the globe," he added.
The Southern Gas Corridor, a pipeline network delivering Caspian gas to Europe, runs from Azerbaijan through Georgia and Türkiye to Greece.
Bayraktar emphasized Türkiye's commitment to regional cooperation. "Türkiye to continue to support strong regional cooperation which we believe is very essential and important than ever before," he said.
The minister noted that the collaboration is "evolving each year towards a better future for the entire region and it must continue."
"As we are all aware, recent international political developments, and geopolitical tensions, which President (Ilham) Aliyev also mentioned during his opening remarks, showed us the importance of regional and global dialogue to enhance the security of our energy supply and resilience of our energy markets," he explained.
"I fully believe that there is a strong commitment and common understanding in this room for the crucial role of Southern Gas Corridor for achieving long-term and sustainable energy cooperation," he said.
Pointing out that almost all of the participants in this important event have ambitious plans toward a green economy, Bayraktar said: "We have the opportunity to also add clean energy projects into our cooperation. Türkiye is ready to expand our partnership and cooperation within this clean energy context."
Bayraktar outlined Türkiye's efforts to enhance natural gas supply security, including developing infrastructure projects, regasification terminals, and storage capacity.
"Through also in investments on regasification terminals, as well as transmission and storage capacity, Türkiye is currently able to import half of its gas need in liquified form," he said.
He said Türkiye has increased its gas storage capacity to 6 billion cubic meters (bcm) and aims to reach 12 bcm within five years. He also noted the importance of utilizing domestic renewable and non-renewable resources.
Bayraktar reiterated Türkiye's renewable energy goals, as announced by President Recep Tayyip Erdoğan at the U.N.'s COP29 climate conference in Baku, aiming to quadruple the country's wind and solar capacity to 120 gigawatts by 2035.
"This ambitious renewable program is aiming to reduce sole reliance on hydrocarbons and reduce import dependency and help us to reach carbon neutrality by the beginning of mid-century," he said.
He highlighted Türkiye's vast natural gas discoveries in the Black Sea, saying that the Sakarya gas field now supplies 3.5 million homes. He also mentioned increased oil output in the southeastern Gabar region and plans for unconventional upstream programs.
Bayraktar emphasized Türkiye’s role as a regional energy hub, citing initiatives like the Baku-Tbilisi-Ceyhan crude oil pipeline, the Trans-Anatolian Natural Gas Pipeline (TANAP), and TurkStream gas pipelines.
He noted the recent natural gas imports from Turkmenistan as a significant step in diversifying supply and transporting Central Asian energy to European markets.
"For the very first time, Türkiye will be supplying pipe gas from a country that does not share any borders. In terms of diversification and a competitive gas supply, this is an important milestone for us," he said.
"Besides gas, having power interconnections with Azerbaijan, Georgia, Bulgaria, and Greece, Türkiye is ready for further partnerships and projects for the transportation of green electricity," he added.
