Bulgargaz and Hungarian MVM CEE will cooperate in the field of supply and trade of liquefied gas

A memorandum of understanding and cooperation in the field of liquefied natural gas supplies and trade in the region was signed in Budapest, Hungary between Bulgargaz EAD and the Hungarian state-owned company MVM CEEnergy Zrt, according to a gas company announcement.

The signing of the Memorandum is in support of the immediate priority of ensuring security and diversification of natural gas supply sources and routes.

According to the text of the Memorandum, the source of the natural gas must be from countries without sanctions, embargoes or any trade restrictions.

Joint purchases of liquefied natural gas using the AggregateEU platform are also planned.

"Any form of cooperation between the two companies will be in accordance with EU competition rules," Bulgargaz executive director Denitsa Zlateva said.

The memorandum enters into force from the date of its signing and is valid for three years. The document does not give rise to legal rights or obligations under international or national law.

The memorandum signed today between Bulgargaz and the Hungarian MVM CEEnergy opens the possibility for Bulgaria to participate in the liquefied natural gas market for Central and Eastern Europe. This was stated by President Rumen Radev, quoted by the press center of the presidency, after successively holding meetings in Budapest with Hungarian President Katalin Novak and Prime Minister Viktor Orbán.

In the presence of the Bulgarian head of state and the Hungarian prime minister, a memorandum of understanding and cooperation in the field of supply and trade with liquefied natural gas was signed between the companies "Bulgargaz" and MVM CEEnergy, the press service emphasizes.

The head of state reminded that as a result of the pro-European policy of the caretaker government, Bulgaria got free access to the liquefied gas terminals of Greece and Turkey, as well as to their gas transmission networks, and today our country not only consumes and transits natural gas, but also declares itself as an active participant in the liquefied gas market for Central and Eastern Europe.

President Radev emphasized that Bulgaria must have the ambition to become an unavoidable factor contributing to the security of natural gas supplies and the energy diversification of our allies and partners in Europe.

At his meeting with the Bulgarian head of state, Prime Minister Viktor Orban expressed his high assessment of Bulgaria's reliability for the supply of natural gas along the Southern Gas Corridor and expressed readiness for subsequent deepening of the bilateral partnership. There was a general assessment that the importance of the Southern Gas Corridor will continue to grow and further actions are needed to increase the capacity for natural gas transmission through Bulgaria.