Deal reached for new non-Russian power source for Europe

KIFI

Published December 17, 2022 4:51 AM

By JUSTIN SPIKE and VADIM GHIRDA
Associated Press

BUCHAREST, Romania (AP) — The leaders of Hungary, Romania, Georgia and Azerbaijan have finalized an agreement on an undersea electricity connector that could become a new power source for the European Union amid a crunch on energy supplies caused by the war in Ukraine. The agreement involves a cable running beneath the Black Sea that would link Azerbaijan to Hungary via Georgia and Romania. Saturday’s deal comes as Hungary, which has lobbied heavily against EU sanctions on Russia for its war in Ukraine, is seeking additional sources for fossil fuels to reduce its heavy dependence on Russian oil and gas.

Article Topic Follows: AP National Business

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