site.btaGovernment Approves Memorandum of Understanding with Moldova in Energy Security

The Council of Ministers Wednesday approved a draft Memorandum of  Understanding (MoU) in the field of energy security between Bulgaria and Moldova. The document is expected to be signed within the UN Climate Change Conference in Baku, Azerbaijan, later in November.

One of the MoU's main objectives is the establishment of a framework for deepening cooperation in the field of energy security based on the principle of mutual benefit and taking into account the common interests of the two countries.

By signing the MoU, the parties agree to work towards establishing a framework and principles for joint action to assess risks, prevent and manage crisis situations in the supply of electricity and/or natural gas in the markets of Bulgaria and Moldova. They will coordinate their actions to ensure continuity of supply for their consumers, without prejudice to the fulfilment of their obligations within the Energy Community and the European Union.

The document also foresees that the two countries will inform each other upon the declaration of any of the crisis levels established in their legislation, as well as upon the triggering of preventive or emergency measures that create a risk of imbalances in the continuity of supply of natural gas and/or electricity.

Within six months of signing the MoU, the parties will develop a plan for joint actions and solidarity measures to be taken in case of an energy crisis in one of the two countries.