site.btaBulgaria, Oman Sign Memorandum on Strategic Energy Cooperation

A Memorandum of Understanding (MoU) between the Bulgarian Ministry of Energy and the Ministry of Energy and Minerals of the Sultanate of Oman was signed on Thursday, the Bulgarian Energy Ministry’s said in a press release on Thursday. The document marks the beginning of enhanced bilateral cooperation in the energy sector and establishes an institutional framework for developing a partnership based on equality, mutual respect, and a shared commitment to energy security and economic growth.

The signing took place at the Ministry of Foreign Affairs of the Republic of Bulgaria following a trilateral meeting between Bulgarian Energy Minister Zhecho Stankov, Foreign Minister Georg Georgiev, and Oman’s Minister of Foreign Affairs Sayyid Badr bin Hamad Al Busaidi. The two sides agreed to deepen cooperation in the global liquefied natural gas market by promoting commercial initiatives, logistical links, and new delivery routes. Potential Omani investments in renewable energy, including battery energy storage systems in Bulgaria, were also discussed.

The MoU outlines a wide range of initiatives fully aligned with the Energy Ministry’s priorities. Additional focus is placed on strengthening regional and international energy connectivity. This includes the exchange of expertise and best practices between companies and institutions from both countries, particularly in the fields of natural gas and the oil industry.

The two sides will work together to promote joint investments, technology transfer, and the establishment of long-term partnerships between the public and private sectors.

Oman has voiced strong interest in Bulgaria’s experience in diversifying energy supply and sustainably developing its energy sector. In turn, Oman’s oil and gas industry, which accounts for over 72% of the country’s gross domestic product, presents significant potential for future cooperation.

The Energy Ministry sees this memorandum as an important step toward implementing Bulgaria’s national vision of becoming an energy hub in Southeast Europe and strengthening international partnerships in the interest of energy security, sustainability, and economic development, the press release further said.