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The heads of the Ministries of Energy of Kazakhstan, Azerbaijan and Uzbekistan signed a memorandum of cooperation on the interconnection of energy systems of the republics within the framework of the Tashkent International Investment Forum, the press service of the Ministry of Energy of the Republic of Kazakhstan reports.

The purpose of the signed memorandum is to define the main conditions for cooperation within the framework of the project on the interconnection of the energy systems of Azerbaijan, Kazakhstan and Uzbekistan.

The document assumes that the participants intend to explore the possibilities of connecting energy systems by laying a high-voltage cable along the bottom of the Caspian Sea and on the territory of other countries in order to implement the most optimal from a technical and economic point of view trade in green energy from Azerbaijan, Kazakhstan and Uzbekistan.

Minister of Energy of Kazakhstan Almasadam Satkaliyev noted that a draft technical specification for laying a deep-sea cable along the bottom of the Caspian Sea had been formed earlier.

«As part of the terms of reference, a proposed business model will be developed for the development of international transmission corridors (financing, revenue stream and ownership) and for the sale of green energy to the countries of the European Union. Based on the above, a draft memorandum of cooperation on the interconnection of the energy systems of Azerbaijan, Kazakhstan and Uzbekistan was worked out between the Ministries of Energy of the three countries», - A. Satkaliev said.

According to the head of the Ministry of Energy of Kazakhstan, basic approaches to the implementation of this project have been discussed and agreed upon today and the department of Kazakhstan is fully ready for further full-fledged cooperation.