Energy ministers of Bulgaria and Ukraine launched a working group to strengthen the cooperation in the sector

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The first working meeting between representatives of Bulgaria and Ukraine, based on the Memorandum of Understanding on Cooperation in the field of energy, signed a day ago by energy ministers Rumen Radev and German Galushchenko, was held at the Ministry of Energy. The two ministers led the meeting that was attended by experts and representatives of energy companies of both sides.

The two delegations started the formal negotiation process for the sale of Belene Nuclear Power Plant equipment, following the decision of the National Assembly of the Republic of Bulgaria. Negotiations will continue in different formats and with a schedule adapted to the period set by the decision of the Bulgarian Parliament.

During the talks, the parties agreed that this is a historic opportunity in which the interests of the two sides coincide completely.

Bulgaria has available a partially delivered equipment that is not sufficient to build a complete new nuclear capacity. The dynamics in the energy sector are such that Bulgaria cannot afford to engage in a long, costly and vague project. Bulgaria must move quickly in line with the common European energy market and invest in viable new alternative capacities. Ukraine has a serious interest in the Bulgarian equipment that could be used to compensate for lost energy capacity, including that resulting from the temporary occupation of the Zaporizhzhia Nuclear Power Plant.

Bulgarian Energy Minister Rumen Radev and his Ukrainian counterpart German Galushchenko were clear that the prepared Memorandum aims at enhancing energy co-operation to support the economic and infrastructural development of the entire region.

The representatives of the Ukrainian side stated that they were also interested in the possibilities to supply LNG through Bulgaria and ensure its storage, and in increasing electricity interconnection capacity and trading opportunities.

It was further underlined that another objective is to deepen the collaboration in the development of new energy technologies, especially as regards green hydrogen and storage, along with the deployment of renewables.

With this initial working meeting, in implementation of the signed Memorandum, Bulgaria and Ukraine have taken the first real step towards realizing the great potential for cooperation in the energy sector between the two countries.

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