Dangote refinery IPO: Retail investors buy in, but is it overpriced?
Nigerian billionaire Aliko Dangote launched Africa's biggest-ever share sale on Monday, opening the oil ref...
A vast undersea power link across the Black Sea is gaining momentum, strengthening Georgia’s ambitions to become a key energy bridge between East and West.
After securing Project of Mutual Interest (PMI) status from the European Union, the Black Sea Submarine Cable is no longer just a regional concept. It is rapidly emerging as a strategic initiative with geopolitical weight, economic potential, and significant implications for Europe’s energy future.
The Black Sea Submarine Cable Project is among the most ambitious energy infrastructure plans in the wider region. Designed to connect Georgia directly to European electricity markets, it involves a 1,155-kilometre high-voltage cable - most of it laid along the seabed - capable of transmitting 1,300 megawatts of power.
At its core, the project focuses on exporting clean energy. Georgia, rich in hydropower resources, has long sought access to European markets. The cable offers a direct route, enabling electricity generated in the South Caucasus to flow into the EU.
Deputy Minister of Economy Mariam Kvrivishvili described the cable as a “strategic” national initiative, stressing that it will not only boost Georgia’s export potential but also strengthen the country’s energy sector. At the same time, she underlined its wider impact: reinforcing EU energy security and giving fresh momentum to the region’s energy development.
The project also aligns with the broader Middle Corridor - a growing trade and transit route linking Europe and Asia. By adding an energy dimension to this corridor, Georgia deepens its role as a critical connector between regions.
The groundwork was laid in 2022, when Georgia, Romania, Hungary and Azerbaijan signed a memorandum of understanding to develop the cable, with strong EU backing. Since then, it has been incorporated into long-term planning by the European Network of Transmission System Operators for Electricity, covering the period from 2026 to 2036.
The timing of the latest development is notable. Despite strained political relations between Tbilisi and Western partners, the EU’s decision to grant PMI status sends a clear signal that Georgia remains strategically important.
With feasibility studies completed and preparatory work already under way, including seabed surveys, the project is moving from concept to execution. If delivered as planned, the Black Sea cable could reshape regional energy flows - and firmly place Georgia on Europe’s energy map.
Maritime trackers received new reports of an attack on a ship in the Strait of Hormuz on Sunday, according to the UK Maritime Trade Operations (UKMTO), adding to concerns about energy supplies after Saudi Arabia shut down a vital oil pipeline on Saturday.
A Kyiv-Warsaw train was struck near the Polish border, Ukraine's state railway firm said on Sunday. No passengers were injured. Ukrainian Railways said that the country's railways were facing systematic attacks for a second day and warned of widespread delays.
U.S. Central Command said 101 commercial vessels have been redirected in the Strait of Hormuz, while oil prices rose more than three per cent amid fresh regional attacks and supply concerns.
Swedes vote in an election on Sunday (13 September) that could see the far-right enter government for the first time if the country's right-wing parties can form a majority.
A Russian strike on a farm warehouse in Pryluky, north-central Ukraine, has killed at least three people, local police said. Meanwhile, EU foreign policy chief Kaja Kallas said an attack on a train near the Polish border was an attempt to intimidate Ukraine's allies.
Syria says it has taken major steps to resolve long-running concerns over its nuclear programme, marking what officials describe as the beginning of a new phase of cooperation with the International Atomic Energy Agency (IAEA).
Georgia has been formally integrated into the European Union's Trans-European Transport Network (TEN-T), bringing Anaklia Deep-Sea Port, Georgian Railway's main line and the East-West Highway into the network's expanded framework.
Türkiye’s foreign minister has renewed calls for the Kurdish-led Syrian Democratic Forces (SDF) to disarm and disband, during talks with Syrian officials in Damascus.
Pakistan is providing targeted relief to millions of people after a sharp rise in global oil prices pushed domestic petrol and diesel prices higher, with disruption around two major Middle East shipping routes adding pressure to the country’s energy supply chain.
The European Union and the Food and Agriculture Organization of the United Nations (FAO) have launched a $5.7 million initiative in Afghanistan to help farmers reach markets, strengthen agribusinesses and withstand climate and economic shocks.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment