„Energy aid to Ukraine is of key importance for the security of the region. In the coming winter months, the Russian-assaulted country will need to import electricity, and increased demand is driving up prices. In this situation, any help to rebuild Ukraine's energy infrastructure is crucial. That is why we are united in our support for the economy and population of Ukraine.“
This was said by Energy Minister Vladimir Malinov during the fifth ministerial meeting of the Partnership for Transatlantic Energy and Climate Cooperation (P-TECC), which is being held in the Romanian capital, Bucharest. He highlighted the priority importance of regional cooperation and assistance from the EU and the US for a successful response to the challenges facing Kyiv. "That is why Bulgaria is working hard at the ENTSO-E level in the European Union to achieve solidarity and support not only during the upcoming winter season, but also in the long term," said Minister Malinov. He emphasizes efforts to increase the capacity of the transmission system to guarantee energy security.
During the P-TECC forum, Minister Malinov spoke with Hungarian Foreign Minister Peter Szijjártó and Romanian Energy Minister Sebastian Burduža. The key role of Bulgaria in fulfilling the challenges related to diversification and security of energy supplies was at the center of both meetings. The participants emphasized that Bulgaria is of great importance for the supply of natural gas to Hungary and Romania. “In this context, the role of our country will deepen in the future with the implementation of the Vertical Gas Corridor project – a strategic initiative to increase the security of gas supplies in the countries of the region”, noted Minister Malinov.
He also recalled the progress in implementing the deal for the sale to the Ukrainian side of the equipment for the “Belene” NPP. “Our Ukrainian partners checked the condition of the equipment on site and we are currently drawing up a contract for the transfer of ownership. Within a few years, the project in Ukraine can be completed”, Minister Malinov also said.
During the conversation with Foreign Minister Szijjártó, the Bulgarian Energy Minister showed understanding for the Hungarian country's difficulties in obtaining crude oil. Minister Malinov said that the European Commission should unite its efforts to create the necessary infrastructure, including the transfer of crude oil from alternative sources, to guarantee energy supplies. In this regard, he undertook that the Bulgarian side would assist Hungary in the process of identifying potential infrastructure for the diversification of crude oil supplies. It was noted that at the moment Bulgaria does not have the infrastructure for the transfer of crude oil to neighboring and other markets, the press center of the Ministry of Energy announced.
The need for full diversification of fossil fuels originating in Russia for EU countries and the Energy Community was another emphasis in Minister Malinov's speech during the forum. He emphasized the common goal that by 2027 the economies of the states would be completely independent in this regard from the Russian Federation. The energy minister also highlighted the need to use the frozen Russian assets to rebuild Ukraine.
The Partnership for Transatlantic Energy and Climate Cooperation (P-TECC) is set up within the framework of the “Three Seas” initiative. Its main objectives are related to assisting the countries of South-Eastern Europe in improving energy security and diversification of sources of energy resources through investments in infrastructure, acceleration of interconnection and compatibility of power transmission networks. These issues are part of the priorities of the Republic of Bulgaria in the energy sector.