On October 29, Hungarian Prime Minister Viktor Orbán announced collaborative efforts by Azerbaijan, Romania, and Hungary to advance a major European project for installing a high-voltage power transmission line along the Black Sea’s seabed.

Speaking at a joint press conference in Tbilisi with Georgian Prime Minister Irakli Kobakhidze, Orbán remarked, "Azerbaijan, Romania, and Hungary are working in this direction. We have a joint venture, which is a decisive step forward. I hope this will be one of the most successful projects in the European Union."

The project aims to supply the EU market with "green energy" from the South Caucasus region via Georgia, with Orbán highlighting its significance as "the largest project for the European Union.” He expressed appreciation to the Georgian government, under Prime Minister Kobakhidze, for their active contribution to the project.

Notably, in early September 2024, energy operators from Georgia (Georgian State Electrosystem), Azerbaijan (Azerenerji), Hungary (MVM Zrt), and Romania (Transelectrica S.A) formalized an agreement to create a joint venture for the initiative, which involves laying a high-voltage electrical cable from Azerbaijan through Georgia and the Black Sea to Romania. This agreement follows an earlier accord signed by the governments of Georgia, Azerbaijan, Romania, and Hungary in December 2022, establishing a framework to transmit electricity from Georgia and Azerbaijan to Europe.