Azerbaijan to Launch Joint Venture for New Central Asia Energy Corridor

Azerbaijan is set to establish a joint venture to develop a major new energy corridor linking Central Asia with Europe.

Director of the Azerbaijan Renewable Energy Agency Javid Abdullayev said that Azerbaijan is pushing forward with a major energy interconnector project that will link the Caspian Sea, Georgia, the Black Sea, Romania, and Hungary, with the feasibility study expected to be completed by the end of 2025, The Caspian Post reports via local media.

He made these remarks at the 13th International Caspian Energy Forum in Baku.

Abdullayev said negotiations are progressing rapidly, with early assessments offering a positive outlook for the project’s future.

“Once this phase is complete, we will move to the next stage. We expect to finalize the creation of a joint venture for the second interconnector, linking Central Asia and Azerbaijan via the Caspian Sea. The headquarters of the company will be in Baku,” he explained.

The official also confirmed that the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) have already committed financing for technical evaluations and expert assessments, with all necessary documentation approved.

Abdullayev further outlined progress on other strategic energy initiatives:

Azerbaijan-Georgia-Türkiye-Bulgaria Interconnector: Political agreements at the highest level have been reached, moving the project closer to implementation.

Nakhchivan-Türkiye-Europe Interconnector: The fourth interconnector is under development, designed to export green energy from Azerbaijan to Europe.

“These projects not only strengthen regional energy connectivity but also cement Azerbaijan’s role as a key player in the sustainable energy landscape of Eurasia,” Abdullayev emphasized.