Bulgaria and USA extend the scope of the Intergovernmental Agreement for cooperation in the field of energy
Bulgaria and the United States of America will extend the scope of the Intergovernmental Agreement for cooperation on the project for building new nuclear capacity at Kozloduy NPP and the civil nuclear program of Bulgaria. The document will be upgraded in order to deepen the bilateral energy cooperation in all areas of mutual interest, especially the development of the renewable energy sector and the oil and gas sector. This possibility was discussed by the Bulgarian Minister of Energy Vladimir Malinov and the US Assistant Secretary of State for Energy Resources Jeffrey Pyatt. "Due to the established trust and excellent collaboration, the two countries will achieve their common goals for energy security and independence in the region," Minister Malinov underlined to his host.
They also discussed the progress in the implementation of the Vertical Gas Corridor initiative. "The activities for design of the new infrastructure on Bulgarian territory are underway at the moment and the planned deadline for their implementation is the end of 2025," Malinov said. According to him, the initiative is in full symbiosis with the already functioning LNG terminal in Alexandroupolis and the expansion of the Chiren underground gas storage facility, as well as with the existing linear infrastructure. "These projects are a guarantor for the energy security of Bulgaria and Southeast Europe, including Moldova and Ukraine," he added. Minister Malinov and Geoffrey Pyatt also discussed the need to provide solidarity support for the restoration of energy infrastructure in Ukraine in view of the upcoming autumn-winter season.
The Minister of Energy Vladimir Malinov also held a bilateral meeting with Rita Lewis, Chairman of the Board of Directors and President of Exim Bank. The two were firm that the support of the Export-Import Bank of the United States (Exim Bank) will contribute significantly to the implementation of the priorities for ensuring energy security in Bulgaria and the region. In this regard, the two noted the key importance of the cooperation on the implementation of the new nuclear power capacity project at the Kozloduy NPP site. The President of Exim Bank Rita Lewis reaffirmed the full support of the financial institution for the construction of Units 7 and 8 in Bulgaria. According to her, Exim Bank will develop the financial structure and provide the necessary financing for the project by the end of next year.
Minister Malinov emphasized to President Lewis the Bulgarian interest in the American experience in the field of small modular reactors. "Their application in Bulgaria will contribute to achieving its goals for a low-carbon economy based on clean energy. The financing of similar projects in Bulgaria by the American Exim Bank will enable our country to benefit from the experience of American companies in this field," Malinov stressed. Minister Malinov emphasized to President Lewis the Bulgarian interest in the American experience in the field of small modular reactors. "Their application in Bulgaria will contribute to achieving its goals for a low-carbon economy based on clean energy. The financing of similar projects in Bulgaria by the American Exim Bank will enable our country to benefit from the experience of American companies in this field," Malinov stressed.
They also discussed the development of projects in the field of renewable energy and its storage, underlining the need to take joint measures to ensure diversification of equipment manufacturers.
