Georgian Prime Minister Irakli Garibashvili on Tuesday deemed the Black Sea Electricity Cable project ‘historic,’ fully backed by the European Union.

The PM continued by referring to it as “the second Baku-Tbilisi-Ceyhan project,” guaranteeing a direct connection to the EU’s energy grid.

“The initiative itself, as it was presented to the EU and partner nations, was “a entirely Georgian initiative,” according to Garibashvili.

Together with Romania, we started the project implementation, which was joined by Azerbaijan, Hungary, and fully supported by the European Union,” the PM underscored.

The cost of the Black Sea Electricity Cable project, according to Garibashvili, would be between $2 and $3 billion.

On 17 December, Prime Minister Irakli Garibashvili, Azerbaijani President Ilham Aliyev, Hungarian Prime Minister Viktor Orban, and Romanian Prime Minister Romania Nicolae Ciucă signed the agreement for the development of the 1,100-kilometer-long Black Sea strategic submarine electricity cable aimed at transporting energy from Azerbaijan to the EU via Georgia.