Energy security and sustainability - key priorities for Bulgaria in regional cooperation

Deputy Minister of Energy Iva Petrova highlighted the key role of energy security, sustainability and affordability for the economies and citizens of the countries in the region, in a statement to the participants of the ministerial session of the traditional Energy Forum in Baku. This year marks the 30th edition of the forum, which is one of the largest and most prestigious international energy platforms.

Petrova pointed out that the modern challenges in the energy sector can be met through active cooperation between partners, taking into account regional specificities. The priority focus is the diversification of sources and routes for energy supplies in building energy stability.

The Bulgarian Deputy Minister emphasized the active role of Azerbaijan in these relations, citing the successful partnership contacts in the implementation of the Southern Gas Corridor, expanded with the commissioning of the Greece-Bulgaria interconnector. She also drew attention to the "Vertical Gas Corridor" initiative, which will increase the gas transit capacity at the entry point between Bulgaria and Greece towards the exit point for Romania by 50%.

Petrova stressed the active presence of Bulgaria, which is consistent in its choice for optimal use of local renewable energy sources in combination with new nuclear capacities, while complying with the strictest safety standards. She emphasized the importance of investments in the development of future networks with a high degree of digitalization and flexible transmission capacity, protected from various threats.

Bulgaria is working steadily on bilateral projects with its neighbors to add interconnection capacity, including with regard to green energy corridors and zones. A Memorandum of Understanding in the sector has recently been signed between Azerbaijan, Georgia, Turkey and Bulgaria.

Deputy Minister Petrova recalled that at the COP29 Climate Leaders' Summit in Baku, Bulgaria gathered strong support for an informal document on energy connectivity dialogues in support of the regional partnerships of the European Political Community (EPC) for a strengthened energy transition.