Monday, July 15, 2024
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Bulgaria and Azerbaijan strengthen energy cooperation for enhanced security and diversification

Bulgaria and Azerbaijan will enhance their energy cooperation to ensure security and diversification of natural gas supplies. Bulgaria confirmed its interest in receiving additional quantities of gas from Azerbaijan based on long-term contracts at the sixth meeting of the Intergovernmental Commission for Economic Cooperation in Baku.

Bulgaria reiterated its support of the future expansion of the Southern Gas Corridor and the active cooperation and further integration of energy markets in the South East European region. Sofia relies on Azerbaijan as a key partner in meeting one of its main energy priorities, the diversification of energy sources.

“Thanks to our excellent gas transmission infrastructure, we can receive additional supplies that will increase energy security not only in Bulgaria but in the whole region of Central and Southeast Europe,” Bulgarian Energy Minister Vladimir Malinov said during the meeting.

Cooperation on the Green Energy Corridor project was also on the table in Baku. The Bulgarian side supports and actively participates as a partner in the project that aims to strengthen energy security and connectivity in the Black Sea Basin, diversify sources of supply, exploit the renewable energy potential in the Caspian region and increase the share of renewable energy in the energy mix.

Last week, the Council of Ministers of the Republic of Bulgaria approved the involvement of the country through BEH and its subsidiaries in the implementation of the Green Energy Corridor, confirmed the Bulgarian Minister adding that the demand for green energy is growing both in Bulgaria and throughout the region.

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