site.btaBulgaria and Moldova Sign Memorandum of Understanding in Energy Security

Bulgaria and Moldova represented by their Energy Ministers, Vladimir Malinov and Victor Parlicov respectively, signed a Memorandum of Understanding in the field of energy security in Baku on Wednesday as part of 2024 United Nations Climate Change Conference, the Bulgarian Ministry of Energy reported. One of the main objectives of the document is to establish a framework for deepening cooperation on energy security based on the principle of mutual benefit and taking into account the common interests of both countries.

Malinov stated that Bulgaria will continue to support Moldova in its efforts to ensure energy security through diversified supplies from various sources. He noted that Moldova can rely on alternative supplies from LNG terminals in Greece and Turkiye where Bulgaria has reserved capacity. He added: "Bulgaria's well-developed gas and electricity transmission network is an excellent prerequisite for ensuring secure and competitive supplies for our partners in Southeast Europe."

By signing the Memorandum, the countries agree to work towards establishing a framework and principles for joint actions to assess risks, prevent and manage crisis situations in the supply of electricity and/or natural gas on 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.

Within six months, Bulgaria and Moldova must develop a plan for joint actions and solidarity measures to be activated in case of an energy crisis in one of the two countries.