Meeting between Energy Minister Traykov and the US Ambassador: Energy issues discussed

Caretaker Minister of Energy Traycho Traykov and the acting US Ambassador to Bulgaria H. Martin McDowell held a meeting to discuss energy issues. The topic of extending the derogation for the four subsidiaries of “Lukoil” in Bulgaria by the Office of Foreign Assets Control of the US Department of the Treasury (OFAC) was among the main highlights.

The two discussed the possibilities for facilitating the process, which is in the interest of the normal functioning and stability of the market.

Current topics from bilateral energy cooperation, as well as the impact of global geopolitical tensions on energy markets, were also considered at the meeting.

The partnership with the American side on the strategic project for the construction of units 7 and 8 of the Kozloduy NPP with the AP1000 technology of the “Westinghouse” company was also discussed. The importance of the project for the sustainable development of the Bulgarian energy sector was noted.

Progress on the construction of the Vertical Gas Corridor on our territory was also among the topics discussed. Bulgaria's potential to establish itself as a leading route for the transport of liquefied natural gas, including supplies from the US, was emphasized.

Minister Traykov and the temporary head of the embassy McDowell emphasized the importance of the partnership between the two countries and confirmed their readiness to actively continue the fruitful cooperation.

It was recalled that the United Kingdom issued a license that allows businesses to continue working with two Bulgarian subsidiaries of “Lukoil” until February 2026. This is important considering the sanctions imposed by the UK and the US against “Lukoil” and “Rosneft”.