For Bulgaria, connectivity, diversification and security of energy supplies are top priorities. We are a reliable and active partner in building a strong, modern and sustainable European energy system. This was stated by the Minister of Energy Zhecho Stankov in Athens during the Sixth Meeting of the Partnership for Transatlantic Energy Cooperation (P-TEC).
Minister Stankov emphasized that efforts to accelerate the transition to a low-carbon and secure economy require a higher degree of infrastructure connectivity, regional coordination and unified market mechanisms in Central and Southeastern Europe.
He highlighted the strategic role of international gas projects in which our country is actively engaged. Among them, the Southern Gas Corridor – key to the diversification of sources to Europe, as well as the Vertical Gas Corridor - an initiative that expands natural gas routes and increases energy security. Ukraine and Moldova should be part of the initiative, this will increase the security of supplies throughout the region, stressed Minister Stankov.
Stankov also highlighted the importance of Bulgarian-American cooperation in the field of high technologies and nuclear energy. The construction of the 7th and 8th units of the Kozloduy NPP with Westinghouse's AP1000 technology makes Bulgaria the first European country to implement this innovative and safe design. The deepened partnership with the US Department of Energy in the development of small modular reactors and the Memorandum between the University of North Dakota and BEH on the study of rare earth elements of key importance for the energy transition and high-tech industry were also highlighted as excellent examples of the growing partnership.
With the development of new nuclear capacities, Bulgaria will strengthen its role as a provider of affordable, reliable and clean energy in the region, said Minister Stankov. He also emphasized that the Ministry of Energy will continue to work actively to strengthen the regional energy infrastructure, expand strategic partnerships and accelerate the modernization of the energy sector for the benefit of European citizens and economies.
Within the framework of the forum, Minister Stankov also participated in a meeting dedicated to progress on the Vertical Gas Corridor, chaired by US Secretary of Energy Chris Wright and Secretary of the Interior Doug Burgum. The meeting noted the significant progress made by Bulgaria, which is a leading country in the implementation of the project and was the first to start concrete construction and technical activities for the construction of key infrastructure sections. It was emphasized that the development of the corridor strengthens European energy security, reduces dependence on Russian natural gas and opens up opportunities for new supplies of liquefied natural gas to European partners.
In the context of the transition period, the role of liquefied natural gas is particularly important. Despite the priority on clean energy, the EU still needs reliable sources to ensure stable supplies and avoid energy crises, emphasized Minister Stankov. According to him, expanding the capacity for reception, storage and transmission of liquefied natural gas is key, as it provides a wider geographical and commercial diversification of supplies. 80 percent of the compressor stations in the region are located on the territory of Bulgaria, and this provides us with a key role in guaranteeing supplies, the Energy Minister emphasized.
A strong interest in the development of the energy sector in Bulgaria was emphasized by US Secretary of the Interior Doug Burgum during his conversation with the Bulgarian Energy Minister. Zhecho Stankov introduced his interlocutor to the government's priorities in the energy sector, including the projects for the construction of new nuclear reactors in the country and our interest in technologies for small modular reactors. Doug Burgum, former governor of North Dakota, expressed to Minister Stankov his satisfaction with the Memorandum of Understanding signed between BEH EAD and the University of North Dakota, which envisages the development of targeted research programs for the implementation of modern technologies for the processing of rare earth elements.
The supplies of liquefied natural gas from the USA were another topic of conversation between Doug Burgum and Zhecho Stankov. At the initiative of the Bulgarian side and in accordance with the prospects of the USA for the development of energy infrastructure, the possibility of aggregating supplies for the entire region is being discussed.
A special road show is to be held to present the projects for the construction of four new PVPPs in the country, it became clear from the words of Minister Stankov. According to him, a public-private partnership will be sought for their implementation.
In the Greek capital, Minister Stankov also spoke with the management of Synthos Green Energy - a Polish company specializing in the development and implementation of emission-free technologies for the energy sector, electricity production from renewable energy sources and small modular reactors. Minister Stankov informed his interlocutors about Bulgaria's interest in these technologies. For the development of nuclear energy in the country, we are exploring the possibilities of attracting companies that develop small modular reactors. With my colleague from the US, Chris Wright, we signed a document that opens up wide opportunities for cooperation in this area, Minister Stankov emphasized. Representatives of Synthos Green Energy confirmed their interest in participating in future nuclear projects in Bulgaria.
During the ministerial meeting, Minister Stankov proposed that Bulgaria host the next P-TEC forum next year, one of the largest energy events between Europe and the United States.