Minister Malinov: Diversification of supplies through the terminal in Alexandroupolis is strategic for the region, including for Ukraine

"Diversification is the freedom to have the right to choose from several options. And this is extremely important for the sustainable development of the energy sector. The visionary decision we made years ago to take a stake in the Alexandroupolis LNG terminal is now proving to be the right one. This infrastructure already contributes to the competitiveness not only of Greece and Bulgaria, but also of the entire region. I am confident that it will also contribute to the future stabilization of Ukraine." This is what the Minister of Energy Vladimir Malinov said to the participants in the discussion "REPowerEU Diversification Workshop", organized in the Greek capital of Athens by the European Commission. It was also attended by US Assistant Secretary of State for Energy Resources Geoffrey Payatt, Greek Environment and Energy Minister Theodoros Skilakakis, European Commission DG Energy Deputy Director General Matthew Baldwin, Deputy Energy Minister of Ukraine Mykola Kolisnik and others.

"After the terminals in Revitoussa and Alexandroupolis are already operational, we need infrastructure to transfer the delivered natural gas from alternative sources. The Bulgarian gas transmission operator "Bulgartransgaz" EAD is already implementing the project to increase the transmission capacity between Bulgaria and Greece as part of the initiative to build a Vertical Gas Corridor", emphasized Minister Malinov. According to him, work is also being done on increasing the capacity of interconnection between Bulgaria and Romania. He expressed confidence that both projects will be commissioned by the end of next year. "Thus, we will reach the markets of Moldova and Ukraine, as well as Slovakia and Hungary and Central Europe, which is of leading importance after the suspension of the transit of Russian natural gas through Ukraine from January 2025," Malinov emphasized. "In full synergy with these projects is the expansion of the underground gas storage in Chiren, with which we will secure the market and give the opportunity to store the necessary quantities of natural gas," he added.

In front of the participants in the discussion, the US Assistant Secretary of State for Energy Resources, Jeffrey Payatt, expressed hope that all countries will be as active in the implementation of the Vertical Corridor as Bulgaria is.

During his visit to Athens, Minister Malinov also spoke with his colleague Theodoros Skilakakis. The two discussed high electricity prices in Southeast Europe and measures to address the problem, which affects energy security and market stability in the region. We remind you that not long ago Greece, Bulgaria and Romania undertook a joint initiative to create a permanent intervention mechanism for excessively high energy prices. "Active efforts to overcome these challenges are a key factor in strengthening the energy markets," emphasized Minister Malinov.