site.btaEnergy Minister Champions Diversification at REPowerEU Workshop in Athens

Energy Minister Vladimir Malinov took part in the REPowerEU Diversification Workshop in Athens, organized by the European Commission, the Ministry of Energy's press service said here on Wednesday.

The workshop, which took place on October 8, brought together key stakeholders to discuss sustainable energy development, diversification, and infrastructure needs across the region. Other attendees included US Assistant Secretary for Energy Resources Geoffrey Pyatt, Greek Minister of Environment and Energy Theodoros Skylakakis, Deputy Director-General in the Directorate-General for Energy at the European Commission Matthew Baldwin, and Ukraine's Deputy Minister of Energy Mykola Kolisnyk.

At the workshop, Malinov spoke of the importance of diversification for sustainable energy development. "Diversification allows for the freedom to choose from multiple options, which is essential for the sustainable growth of the energy sector. Our forward-thinking decision to invest in the liquefied natural gas terminal in [the Greek city of] Alexandroupolis years ago is now showing its value. This infrastructure is already helping improve the competitiveness not just for Greece and Bulgaria, but the whole region. I am confident it will also support the future stabilization of Ukraine," Malinov said.

"With the terminals in [the Greek city of] Revithoussa and Alexandroupolis now operational, infrastructure is required to transport natural gas from alternative sources. The Bulgarian gas transmission operator, Bulgartransgaz EAD, is currently developing a project to improve transmission capacity between Bulgaria and Greece as part of the effort to create a Vertical Gas Corridor," Malinov added.

He noted that efforts are currently underway to improve the interconnection capacity between Bulgaria and Romania. Malinov expressed confidence that both projects would be operational by the end of next year. This development will enable access to the markets of Moldova, Ukraine, Slovakia, Hungary, and Central Europe, which is essential due to the planned cessation of Russian natural gas transit through Ukraine starting January 2025, Malinov stated. "The expansion of the underground gas storage facility in Chiren aligns perfectly with these projects, ensuring market supply and offering storage for the required quantities of natural gas," he added.

During the discussion, US Assistant Secretary of State for Energy Resources Geoffrey Pyatt expressed hope that all countries would be as active as Bulgaria in implementing the Vertical Gas Corridor.

As part of his visit, Malinov also met with his Greek counterpart Skylakakis. The two ministers discussed the high electricity prices in Southeast Europe and explored measures to tackle this issue, which impacts energy security and market stability in the region. Recently, Greece, Bulgaria, and Romania initiated a joint effort to create a permanent mechanism to intervene when energy prices rise excessively. "Active efforts to overcome these challenges are crucial for strengthening energy markets," Malinov said.