Security of energy supply and preparations for the next winter period were discussed at the EU Transport, Telecommunications and Energy Counc
Minister Rumen Radev's speech focused on the Vertical Gas Corridor Project
Security of energy supply and preparations for the next winter season were the main topics of the agenda of EU Council on Transport, Telecommunications and Energy held on 4 March 2024. Energy Minister Rumen Radev said the energy transformation should guarantee national and energy security, which in the current geopolitical challenges is impossible without regional solidarity and co-operation in the regions of Southeast, Eastern and Central Europe.The Energy Minister underlined Bulgaria's ongoing efforts regarding the diversification of energy sources, including nuclear fuel and natural gas supplies, as well as the development of network connectivity with neighbouring countries. He stressed the critical role in diversifying the supply and transit of natural gas to Central and South-Eastern Europe of the operational gas interconnectors with Romania, Greece and Serbia, adding that the opening of the LNG terminal in Alexandroupolis, expected in April, would further support what has been achieved so far in this direction. In addition, the project to double the capacity of the underground gas storage facility, currently under way, will also contribute to energy security.
Minister Rumen Radev highlighted the development of the Vertical Gas Corridor project, which is key for the countries of the Central and South-Eastern Europe, especially against the background of the expected imminent suspension of Russian gas transit through Ukraine as of 1 January 2025.
“The Vertical Gas Corridor is a strategic common project involving Greece, Bulgaria, Romania, Hungary and now Slovakia, Ukraine and Moldova, and concerns security of supply, sustainability and diversification for South-Eastern, Central and Eastern Europe. This project is vital for unlocking the enormous potential of the Ukrainian gas network“, Minister Radev said. He expressed the opinion that European efforts should focus on this region, including by providing the necessary financial support from the EU.