Minister Petkova: In order to guarantee energy security, we will provide liquidity to the Bulgarian market

Minister Petkova: In order to guarantee energy security, we will provide liquidity to the Bulgarian market download this image

Providing liquidity to energy markets is a key condition for ensuring energy security for both, electricity and gas supplies, has been highlighted by Energy Minister Temenuzhka Petkova. Minister Petkova took part in a round table on "Energy security risks and energy security agenda in Southeast Europe".

According to Petkova, the implementation of the priorities of the government in the field of electricity can be achieved through market integration that will provide for greater liquidity to the benefit of consumers. She noted that few days ago, the Electricity System Operator launched the construction of a new line between Varna and Burgas of EUR 30 million. "This is proof that we are actively working to ensure energy security", Petkova stressed.

During the meeting, Petkova also briefed participants on the development of interconnections in the region, as well as with the government's intention to build a gas hub on the territory of the country. As the energy minister said, the implementation of these projects illustrates the efforts of the government to guarantee energy security in the field of gas. Pekova underlined that the construction of the interconnector between Greece and Bulgaria is an irreversible process, since all its key public procurements are currently ongoing. "This project is extremely important for diversifying sources of natural gas supply not only for Bulgaria, but for the entire region", Petkova added and reminded that the interconnector is defined by the EC as one of the seven top priorities in the area of energy.

The ambassadors of the USA and Greece to Bulgaria, H.E. Eric Rubin and H.E. Grigorios Vassiloconstandakis, declared their full support for the project.

The interconnector between Bulgaria and Romania, which is already built and in exploitation, plays a crucial role in diversifying gas supplies in the region. The energy minister reminded about the signed declaration between Bulgaria and Serbia on the implementation of the interconnector between the two countries by May 2022.

Minister Petkova also informed the participants in the round table about the decision of Bulgaria to take part in the construction of an LNG terminal near Alexandroupolis. This will open possibilities for gas supplies from different sources such as the USA, Qatar, Algeria and others. "Upon successful implementation of these gas projects as early as 2020, Bulgaria and Southeast Europe will have alternative sources and routes of natural gas supply", Petkova concluded.

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