site.btaNatural Gas Memorandum Signed with Macedonia

Skopje/Sofia, August 1 (BTA) - The governments of Bulgaria and Macedonia have confirmed their political intention to work for the security of energy supplies to the two countries, to Southeastern Europe and to the European Union and have expressed support for the building of a European Energy Union. These commitments have been set out in a bilateral memorandum of understanding and cooperation in the field of natural gas. The memorandum was signed by Bulgarian Energy Minister Temenouzhka Petkova and Macedonian Economy Minister Kreshnik Bekteshi in Skopje on Tuesday, the Bulgarian government press service reported.

The signing took place during a Skopje visit by a Bulgarian delegation headed by Prime Minister Boyko Borissov. The main highlight of the visit has been the signing of a Goodneighbourliness Treaty between the two countries.

The natural gas memorandum stipulates that Bulgaria and Macedonia will examine the feasibility of building a new direct link between their gas systems. To this end, they will put together a joint working group which will include ministerial officials and experts serving with gas transmission operators. Within six months of the memorandum's entry into force, the sides will carry out a study of the technical, legal, market, economic, financial and regulatory aspects of the project. The future decision to build a new natural gas link between Bulgaria and Macedonia will take into account the existing gas transmission infrastructure, the construction of gas interconnectors between Bulgaria and Greece and between Bulgaria and Turkey, and the concept of building a Balkan Gas Hub in Bulgaria.

Petkova invited Bekteshi to visit Sofia between October 10 and 15, when the working group is expected to hold its first meeting.

The two ministers discussed the potential of bilateral energy cooperation. Petkova noted that much of Bulgaria's electricity exports go to Macedonia. The two countries have also interacted successfully in the domain of minerals and raw materials, she recalled. Bekteshi praised Bulgaria's progress in building natural gas interconnectors with Greece, Serbia and Turkey and showed interest in the Balkan Gas Hub project.

The two sides concurred that the Bulgaria-Macedonia natural gas memorandum will allow Macedonia to draw energy resources from the Balkan Hub.

Energy cooperation between Bulgaria and Macedonia will ensure the diversification of natural gas sources and supply routes and the liberalization of Southeastern Europe's energy market, Petkova said, as quoted by the Bulgarian government press service.