Energy potential and opportunities in Georgia: The context of making Georgia a regional energy hub

¹ PhD in Economics, Head of Management and Administration Department, 0179 University St 2, Tbilisi, Georgia
² PhD in Economics, Management and Administration Department, 0179 University St 2, Tbilisi, Georgia
³ PhD in Economics, Management and Administration Department, 0179 University St 2, Tbilisi, Georgia
⁴ PhD student, Management and Administration Department, 0179 University St 2, Tbilisi, Georgia
⁵ PhD student, Management and Administration Department, 0179 University St 2, Tbilisi, Georgia
⁶ PhD student, Management and Administration Department, 0179 University St 2, Tbilisi, Georgia
⁷ PhD in Business Administration, Management and Administration Department, 0179 University St 2, Tbilisi, Georgia

Abstract

As Georgia establishes itself as a regional energy hub, its energy infrastructure becomes essential for promoting sustainable development and strengthening regional energy security. This article explores the challenges and opportunities associated with Georgia’s energy infrastructure, focusing on its potential to serve as a reliable and sustainable energy link between Europe, the Caucasus, and Central Asia. A significant aspect of this transformation is the proposed Black Sea Submarine Cable, a high-voltage direct current (HVDC) transmission line that aims to connect Georgia with several European countries, enhancing energy interconnectivity and Enabling the incorporation of renewable energy sources. Specifically, it highlights Georgia’s strategic connections with neighboring countries, including Turkey, Azerbaijan, Armenia, Russia, and its potential linkage to the European energy market via the Black Sea cable. This connection will enable the import and export of electricity, particularly from renewable sources, enhancing energy security and stability in the region. Furthermore, the article discusses the implications of regional geopolitical factors, market reforms, and technological advancements in shaping the future of Georgia’s energy landscape. Finally, the article presents a comprehensive analysis of the sustainability strategies that could bolster Georgia’s infrastructure, ensuring both environmental and economic resilience in the long term.