site.btaEnhanced Regional Cooperation Is Key Factor for Southeast Europe's Energy Security - Deputy Minister Temelkov

Enhanced regional cooperation is a key factor for energy security in Southeast Europe, said Deputy Energy Minister Kiril Temelkov in Athens on Friday. It has the potential to support the coordination of national policies, thereby facilitating projects and decisions aimed at expanding electricity and gas infrastructure to ensure diversification and security of supply, he added, as quoted by his Ministry. Temelkov was speaking at a meeting of the energy ministers of Greece, Bulgaria, Serbia, and North Macedonia.

He noted that as an active participant in the collective efforts toward regional connectivity, Bulgaria plays a leading role in the implementation of the East-West project, which is of key importance for increasing interconnection and the potential for the free transmission of electricity between the Balkan Peninsula and the Apennines.

According to Temelkov, the project is one of the leading factors for energy security and ensuring competitive electricity supplies for consumers in the region.

“In the gas sector, the Vertical Gas Corridor is a strategic initiative that will provide additional volumes of natural gas and LNG from various reliable sources to markets in Eastern, Southeastern, and Central Europe,” Temelkov noted, as quoted in the press release. 

He emphasized the importance of cooperation among operators within the initiative to deepen market integration and achieve a high level of diversification and security of supply. 

“Bulgaria has taken the initiative to hold active consultations both among the countries participating in the project and with the European Commission. These consultations aim to introduce integrated products and competitive transit tariffs, making the route more attractive and drawing in new suppliers for the entire region. The development and marketing of integrated capacity products will optimize the available long-term network capacities so that they can compete with alternative supply routes,” Temelkov noted.

The project within Bulgaria is expected to be put into operation by the end of this year, in phases, with the first phase set to be completed as early as next month.

During the forum, Bulgaria invited North Macedonia and Serbia to join the Vertical Gas Corridor initiative through infrastructure on their territories. 

In Athens, the energy ministers of Greece, Bulgaria, Serbia, and North Macedonia confirmed that energy security, accessibility, and sustainability are no longer solely national priorities but shared European and regional responsibilities. They emphasized the strategic importance of regional cooperation as a catalyst for progress in infrastructure connectivity, market integration, system flexibility, and security of supply. 

The energy ministers also agreed that Southeast Europe must play a more active role in shaping the future architecture of the European energy system.

Discussions also focused on the impact of the war in Ukraine and the ongoing instability in the Middle East on international energy markets. In this context, coordinated action and enhanced regional interconnectivity are key factors for energy security, price stability, and competitiveness, the press release reads.