site.btaDeputy Energy Minister Iva Petrova Stresses Energy Security and Regional Cooperation at Baku Forum

Achieving energy security, sustainability and accessibility for the benefit of economies and citizens is of paramount importance, Deputy Minister of Energy Iva Petrova said during the ministerial session of the 30th Anniversary Baku Energy Forum as part of Energy Week, the Energy Ministry press service said on Tuesday.

This is the 30th year of the forum, which is among the largest and most prestigious international energy platforms. The ministerial plenary session was held under the banner “Global Cooperation for a Resilient and Sustainable Energy Future” and featured statements by senior representatives from 12 countries, the European Commission, international organizations and others.

Today’s challenges in the energy sector can be addressed through active cooperation among partners, tailored to regional specificities. A key priority is the diversification of sources and routes for energy supplies in the effort to build energy stability, Petrova said. She highlighted the host country’s active role in these relations and gave as an example the successful partnerships in the implementation of the Southern Gas Corridor, expanded through the commissioning of the Greece-Bulgaria interconnector.

Petrova also drew attention to the Vertical Gas Corridor initiative, which will increase by 50% the gas transit capacity from the Bulgaria-Greece entry point to the exit point for Romania. This is a key strategic initiative that will provide additional volumes of natural gas and liquefied natural gas from diverse and reliable sources to markets in Central and Eastern Europe, including Ukraine and Moldova, her statement noted.

BTA recalls that on May 29, during an official inspection of the progress in building the Vertical Gas Corridor near the village of Mikrevo in Strumyani Municipality, Minister of Energy Zhecho Stankov said the Vertical Gas Corridor was of critical importance and enjoys support from the governments of Greece, Bulgaria, Romania, Moldova, Ukraine, Hungary and Slovakia. According to Minister Stankov, the project is an expression of European solidarity and partnership. “This is an opportunity for technology transfer and for establishing corporate partnerships in the construction of this type of network,” he said. Stankov said that the project covers 69 km. After 30 days, 37 km have been finished, with 20 km of pipe installed. Of these, 15 km have been welded, and 3 km have already been buried.

In Baku, Petrova also stressed Bulgaria’s active presence and consistent choice to optimize the use of local renewable energy sources in combination with existing and planned new nuclear capacities, while complying with the highest safety standards. According to her, a particularly important goal is investment in the development of future-proof grids with a high degree of digitalization and flexible transmission capacity, protected against cyber, hybrid and physical threats, the statement added.