"I believe that the market will decide the outcome of the initiative regarding the transfer of energy from the South Caucasus to Europe through the Black Sea," said Geoffrey Pyatt, Assistant US Secretary of State for Energy Resources, who is on a visit to Azerbaijan, APA reports.
According to him, what is important is the commitment of the government to explore the possibilities of this initiative and the desire to move forward in this direction: "I had the opportunity to meet with the Minister of Energy of Romania, as you know, Romania is an important partner in this initiative. The Romanian minister emphasized almost the same point. We cannot now say a word about how this initiative will turn out. The market will determine what is possible or not."
Geoffrey Pyatt emphasized that they are facing a similar issue in the United States: "The United States has great opportunities for renewable energy."
The American official noted that he believes that innovations will enable such projects to be realized: "The energy transition is happening faster than people expect. New innovations make the process transition possible."
He emphasized that this region has the potential of geothermal energy in addition to energy and wind energy.