Ministers Malinov and Siarto discussed bilateral co-operation to safeguard energy security in the region
Opportunities to expand bilateral co-operation to preserve energy security in the region discussed Bulgarian Energy Minister Vladimir Malinov and Minister for Foreign Affairs and Trade of the Republic of Hungary, Peter Siarto at a business breakfast in Sofia. "By strengthening the strategic partnership, we will look for common solutions to address energy challenges. One way to do this is to better connect the regions producing and consuming green energy with affordable and predictable supplies,“ Minister Malinov underlined. He recalled that Bulgaria presented a document to promote energy connectivity dialogues at the Climate Forum COP29 in Baku. Improving electricity flows along the corridor from south to north in Europe will enhance energy security as well as the integration of renewable energy into the system.
Minister Siarto reiterated Hungary's support for Bulgaria's accession to the Intergovernmental Agreement on the Green Corridor project and assured his host that our country would be included in it. The two agreed that two variants of a green energy route from the Caspian region through Bulgaria should be developed as part of the feasibility study.
During the conversation, Minister Malinov stressed Bulgaria's key role in diversification and security of energy supply. In this respect, our country's role will become increasingly important for the implementation of the Vertical Gas Corridor, a strategic initiative to increase security of gas supply for the countries of the region. He informed his interlocutor that Bulgarian state-owned operator Bulgartransgaz EAD was implementing its contractual relations in due time and of the required quality. The Energy Minister insisted that following sanctions imposed on Gazprombank, the company that had booked transportation capacity across Bulgarian territory should find a way to make payments so that the service continue to be provided. An option involving the Hungarian side as part of the decision was discussed during the discussion.
Both ministers also discussed issues of bilateral interest related to the preservation and development of nuclear capacity in the two countries. They agreed that nuclear plants have a future as baselines to produce electricity at affordable prices. Peter Siarto presented progress in building new nuclear power facilities in Hungary. Minister Malinov, for his part, presented Bulgaria's plans to develop its nuclear energy sustainably with two new units at Kozloduy Nuclear Power Plant.