site.btaEnergy Minister: Maximizing Regional Gas Infrastructure Capacity Will Boost Energy Security

It is important for countries in the region to use the existing gas infrastructure to its full capacity in order to enhance the security of energy supply, Energy Minister Zhecho Stankov said Thursday during the Delphi Economic Forum in Greece, said Stankov's Ministry. He commented on the growing interest from international companies in exploring for natural gas in the region. He noted that Bulgaria is expected to soon sign an agreement with Shell for gas exploration in the Black Sea.

“It will take time for natural gas extraction to begin on our territory. That is why, in the long term, it is crucial to use the liquefied natural gas (LNG) terminals in the region,” the Minister said.

Stankov highlighted the importance of cooperation with Greece, Cyprus, and other countries in the region. “The LNG terminal in Alexandroupolis alone has a capacity of 5.5 billion cubic metres,” he pointed out.

The Minister also noted that the capacity of the gas interconnector Bulgaria-Greece, will be increased from 3.2 to 5 billion cubic metres which, in his words, will contribute to the region’s energy security.

Stankov stressed that while investments in exploration are important, equal attention should be paid to using the full potential of existing infrastructure.

He also pointed to high electricity prices in Southeastern Europe compared to those in Central and Western Europe as a major challenge. “This issue can only be resolved through real actions to support business competitiveness in the region and to ensure lower electricity bills for households,” he said.

Stankov noted that affected countries are determined to act as a team in the future. He underlined the importance of making the voices of these countries heard in Europe, particularly given that Bulgaria and Greece border non-EU countries and it will be easy for businesses to relocate to neighbouring non-EU countries with lower energy costs.