site.btaDeputy Energy Minister in Delphi: EU Energy Security Needs Common Support Mechanism

If the European Union says that energy security is important, it should create a support mechanism, Deputy Energy Minister Teodora Georgieva said on Thursday during her participation in the 11th Delphi Economic Forum in Greece. According to her, crises often lead to closer cooperation between countries.

She recalled that the energy crisis linked to Russia’s war in Ukraine began in 2022, while new challenges related to tensions surrounding Iran and restrictions on resources are once again highlighting the need for common European solutions and leadership. “All countries must think together and stand together in resolving crises,” Georgieva said.

She highlighted the importance of energy security and infrastructure, noting that Bulgaria made one of its most important strategic decisions by signing a 25-year agreement with Azerbaijan, ensuring reliable natural gas supplies at competitive prices.

Georgieva underlined that, following the commissioning of the Greece-Bulgaria Interconnector, Bulgaria activated reverse flow through the Trans-Balkan gas pipeline for the first time, which is of key importance for supplies to Ukraine. Bulgaria is connected to the Southern Gas Corridor through the Trans Adriatic Pipeline and the Greece-Bulgaria Interconnector, which is essential in times of crisis, she said.

According to Georgieva, Bulgaria is also actively working on the development of the so-called Vertical Gas Corridor by expanding the capacity of its gas transmission infrastructure. This creates opportunities for transporting liquefied natural gas from Greece to Ukraine and strengthens Bulgaria’s role as a regional energy factor, she added.

Georgieva noted that, amid the growing importance of energy security, the EU needs to establish support mechanisms for strategic infrastructure projects. In this regard, a joint letter is being prepared by the ministers of the countries participating in the Vertical Corridor, calling for European support and greater competitiveness of the route, including through so-called “bundled” products for reserving capacity along the entire route from Greece to Ukraine.

As an important element of the energy mix, Georgieva pointed to natural gas, stressing that it is not possible to rely solely on renewable energy sources. “Hydrogen may come later, but let that happen later and let the market determine it,” she said.

Georgieva also emphasized the need to develop nuclear energy, as well as the importance of long-term planning and proper positioning of the country in the energy sector.