Bulgaria and Oman will sign a Memorandum on Energy Cooperation
Bulgaria and Oman will sign a Memorandum of Understanding to promote bilateral energy relations within the next two months. That was agreed by the Minister of Energy of the Republic of Bulgaria Vladimir Malinov and the Minister of Energy and Minerals of the Sultanate of Oman Eng. Salim Al Aufi during a meeting. The document will enable enhancing bilateral energy cooperation in the areas of oil and gas, hydrogen, renewable energy production and storage, as well as potential investment by Oman in our country.
“Guaranteeing security and diversification of energy supply is an integral part of Bulgaria's national security. In this respect, one of the main goals facing our country is securing supplies of liquefied natural gas in the long term,“ Minister Malinov told his guest. He recalled that after 1 October this year, the LNG terminal near Alexandroupolis, Greece, where the Bulgarian side is a co-shareholder, would start commercial exploitation. Ministers Malinov and Salim Al Aufi discussed the possibility of supplying liquefied natural gas to Bulgaria, thus providing some of the necessary quantities for the upcoming winter season.
“Our country continues to pursue the target of reaching net zero emissions by 2050. Nevertheless, that goal must not impede the competitiveness of the Bulgarian economy,” Minister Malinov pointed out. Minister Salim Al Aufi expressed interest in Bulgaria's experience in operating pumped storage hydro power plants as an option for storage of energy from renewable sources.
Furthermore, the energy ministers of Bulgaria and Oman considered a potential cooperation in the field of hydrogen as one of the clean energy sources. “Bulgaria can be a gateway for producers and traders of hydrogen that can be realized in Europe," Minister Malinov noted. "We have already developed, together with Greece, a project to build an interconnector for hydrogen, which has also been granted the status of a Project of Common Interest to the EU. Romania is interested in joining the project as well,” Mlinov added. The two ministers agreed to anchor the topics discussed in the drafted memorandum, which will serve as a basis for developing bilateral relations between the countries.