site.btaConference Marks 25 Years of Bulgarian Petroleum and Gas Association

A conference marking 25 years of the Bulgarian Petroleum and Gas Association took place here on Thursday under the theme "Energy Transition in Transport in South East Europe", the Economy and Industry Ministry said. Participants discussed European and national perspectives of the energy transition, as well as technological, regulatory, market, and administrative challenges.

Among the participants were caretaker Economy and Industry Minister Petko Nikolov, Liana Guta, Director General of FuelsEurope & Concawe, and Ewa Abramiuk-Lété, General Manager at Liquid Gas Europe.

In his speech, Nikolov said that modernization and expansion of production are facilitating the creation of new economic opportunities in the context of the clean energy transition. He added that effective diversification of supply, together with the integration of sustainable and advanced technologies, will determine how successfully Bulgaria will be able to strike a balance between the economic benefits and the need for environmental responsibility and carbon reduction.

He said that "it is important to seek long-term solutions to important issues for business on the one hand and to find a balance between business and end users of fuels on the other hand".

"The economic activities in the refined petroleum products sector in Bulgaria are undoubtedly of strategic importance for regional economic stability and international trade," Nikolov noted, adding that they are the foundation of the transport system, energy sector and manufacturing. He said the industry plays an important role in domestic production and provides thousands of jobs, both directly in manufacturing and indirectly through related sectors such as logistics and distribution.