Minister Malinov: Diversification of supplies through the terminal in Alexandroupolis is strategic for the region, including Ukraine
The Energy Minister participated in Athens in the European Commission's "REPowerEU Diversification Workshop"
“Diversification is the freedom to have the right to choose from several options. Moreover, this is crucial for the sustainable development of the energy sector. The visionary decision we made years ago to become shareholders in the LNG terminal in Alexandroupolis now proves to be the right one. This infrastructure already contributes to the competitiveness not only of Greece and Bulgaria, but also of the whole region. I am confident that it will also help the future recovery of Ukraine.” That is what Energy Minister Vladimir Malinov said to the participants in the discussion “REPowerEU Diversification Workshop” organized by the European Commission in Greece’s capital Athens. The event was also attended by the U.S. Assistant Secretary of State for Energy Resources Geoffrey Pyatt, the Greek Minister of Environment and Energy Theodoros Skilakakis, the European Commission Deputy Director- General for Energy Matthew Baldwin, the Ukrainian Deputy Minister of Energy Mykola Kolisnyk and others.
“Now that the terminals in Revithoussa and Alexandroupolis are operational, we need infrastructure to transport the natural gas supplied from alternative sources. Bulgarian gas transmission operator Bulgartransgaz EAD is already implementing the project to increase transmission capacity between Bulgaria and Greece as part of the initiative to build a Vertical Gas Corridor, according to Minister Malinov. In his words, there is ongoing work on increasing interconnection capacity between Bulgaria and Romania. He expressed confidence that both projects would be operational by the end of next year. “In this way, we will reach the markets of Moldova and Ukraine, as well as Slovakia, Hungary and Central Europe, which is vital after the suspension of Russian natural gas transit through Ukraine as of January 2025,” Malinov underlined. “The expansion of Chiren underground gas storage facility, which will secure the market and enable the necessary quantities of natural gas to be stored, is in full synergy with these projects as well,” he added.
In front of the participants in the discussion, the U.S. Assistant Secretary of State for Energy Resources Geoffrey Pyatt expressed the hope that all countries will be as active in the implementation of the Vertical Gas Corridor as Bulgaria is.
Within the framework of his visit to Athens, Minister Malinov also spoke with his counterpart Theodoros Skilakakis. They discussed high electricity prices in Southeast Europe and measures to address the problem affecting energy security and market stability in the region. We recall that Greece, Bulgaria and Romania have recently taken a joint initiative to create a permanent intervention mechanism whenever extreme prices are recorded. “Active efforts to address these challenges are a key factor in strengthening energy markets,” Minister Malinov emphasized.
