Experts Discuss Energy Security, Cooperation in Southeast Europe at Sofia Economic Forum

Kaloyan Vassev

Former Caretaker Energy Minister Vladimir Malinov (BTA Photo/ Nikola Uzunov)

Sofia,

20.01.2025 18:14

(BTA)

"Not only Bulgaria, but also the whole region needs to improve critical infrastructure", said Vladimir Malinov, former caretaker Energy Minister (2024-2025) during the fifth edition of the Sofia Economic Forum. He stressed that energy remains the backbone of the economy and it is crucial to ensure both reliable supplies and affordable electricity prices. According to him, cooperation between countries in the region is crucial for infrastructure development. "When we work together and share the same values, we have reason to be optimistic," he said.

George Christidis, acting president of the Canadian Nuclear Association, participated in the forum via an online link. He pointed out that Canada has ample opportunities to diversify into nuclear energy and renewables. He said the country is focused on building small modular reactors, which are the future of nuclear power.

Konstantin Konstantinov, executive director of the Bulgarian Independent Energy Exchange (IBEX), explained that the Bulgarian exchange works according to European rules. He stressed the importance of the connectivity projects that unite the energy exchanges in the region.

Kostis Stambolis, President of the Energy Institute of Southeast Europe, pointed out that Bulgaria plays a key role in the region's energy sector and pointed out that in recent years the energy ties between the countries in Southeast Europe have deepened. Stambolis stressed the 2014 declaration on the Vertical Gas Corridor, which is important for energy security.

Martin Georgiev, CEO of the National Electricity Company (NEK EAD), focused on the modernization of existing infrastructure. He noted that the rehabilitation of the Belmeken-Sestrimo-Chaira Cascade has been completed and the renovation of the Chaira pumped-storage hydropower plant is ongoing. In addition, NEK is developing projects for hybrid plants with energy storage.

Teodora Georgieva, CEO of ICGB, stressed that the interconnector between Greece and Bulgaria is key for Europe's energy security. It not only reduces dependence on Russian gas, but also connects Europe to the Southern Gas Corridor. Georgieva noted that EU funding is crucial for the implementation of the Vertical Gas Corridor.

/MY/