site.btaEnergy Security and Role of Natural Gas as Transition Fuel in Focus of Discussions

Energy security, sustainability, innovation, and the role of natural gas as a transition fuel were on the agenda on the second day of the Green Transition Forum 5.0, held at the Sofia Event Center. The forum, now in its fifth consecutive year, is organized by the Green Transition Forum and Dir.bg, with BTA as a media partner.

Among the key participants in the energy panel were Vladimir Malinov, Executive Director of Bulgartransgaz; Teodora Georgieva, Executive Officer of ICGB – the Greece-Bulgaria gas interconnector; Murad Heydarov, Executive Director of SOCAR for the Balkans; and Predrag Grujicic, Head of Gas Unit at the Energy Community Secretariat.

According to Bulgartransgaz’s Vladimir Malinov, achieving balance in the energy sector should be guided by European Union policies while also accounting for national market specificities.

“It’s normal to face challenges during the green transition,” Malinov said. “The shared goals of the EU – particularly the European Commission – envision an energy system that meets the needs of member states, is significantly greener, more reliant on renewable sources, and reduces the impact on climate change. This is a vision we support and actively follow.”

He emphasized, however, that national specifics must also be considered. “We need to account for Bulgaria’s unique energy mix, our available natural resources, and the economic viability of our actions. After all, economic benefits are created within the country.”

The forum continues to gather industry leaders and decision-makers to exchange ideas on the future of energy and sustainable development in Europe.

According to Malinov, the energy sector is the backbone of every country’s economic development. He emphasized that the green transition should not come at the cost of Bulgaria’s economic competitiveness.

"The energy transition must be balanced with economic and social realities," Malinov said. "We must also consider the social aspect – the affordability of energy – because Bulgarian consumers are among the poorest in the EU."

He also pointed to the influence of geopolitical factors on the energy sector, which, he said, exposes Bulgaria’s vulnerability. “That’s why regional cooperation is crucial, and we need to strengthen our partnerships in Southeastern Europe,” he added.

Malinov stressed that natural gas still holds underdeveloped potential as part of Bulgaria’s and the region's energy mix.

Teodora Georgieva, Executive Officer of the ICGB gas interconnector, highlighted the strategic importance of the Greece-Bulgaria Interconnector (IGB). She described it as a cornerstone of two major routes: the Vertical Gas Corridor and the Southern Gas Corridor.

“While Bulgaria’s gas consumption is currently low, the infrastructure has tremendous potential,” Georgieva said. “Bulgaria has a long-term contract with Azerbaijan under the Southern Gas Corridor, which will secure up to one-third of the country’s gas needs.”

She also pointed out a key challenge: “Gas infrastructure is not subsidized by the EU. We are facing the tough task of meeting multiple energy goals – including energy security – without financial support from the Union. That’s why EU backing for innovation is so important to us.”

Murad Heydarov, Executive Director for the Balkans at SOCAR, underscored Azerbaijan’s growing role in European energy supply.

“Azerbaijan is currently one of the major gas suppliers to the EU,” Heydarov noted. “The idea of the Southern Gas Corridor began 20 years ago. There were challenges along the way, but we have reached a viable solution, and progress will continue.”

Vladimir Malinov reiterated the importance of natural gas in ensuring a smooth transition toward carbon-neutral fuels. “Natural gas plays a critical role in bridging today’s energy systems with the net-zero future,” he said.

Svetoslav Benchev, Chairman of the Board of the Bulgarian Petroleum and Gas Association (BPGA), emphasized that domestic production is another key pillar of national energy security, particularly in the case of natural gas.

“Unfortunately, in Bulgaria we’ve only been talking about exploration and drilling for oil and gas in the Black Sea, but nothing has happened yet,” Benchev noted. “Still, I remain optimistic — we now have an agreement in place with Shell, and I hope we’ll see the first positive results within the next few years.”

According to him, approximately 80% of Bulgarians support offshore exploration and production in the Black Sea.

“In Central and Eastern Europe, we’re all in a similar situation,” Benchev added. “The best way to achieve progress in Brussels is through regional cooperation — not isolated national efforts.”

Peter Fildishev, Head of Gas Trading and Operations at MET Energy Trading Bulgaria, highlighted the transformative impact of liquefied natural gas (LNG) on the European gas market.

“LNG has completely changed the dynamics of the gas market in Europe. Its share in the energy mix has increased significantly and continues to grow,” Fildishev said.

More than 3,500 participants from over 30 countries are attending the five-day Green Transition Forum 5.0 at Sofia Event Centre, which runs until June 20. The forum gathers EU commissioners, ministers, MEPs, Nobel Prize laureates and top executives from global companies to discuss a range of topics including energy security, sustainable finance, digitalization, and innovation in the CEE region. Prime Minister Rosen Zhelyazkov, former Italian prime minister Enrico Letta, and Professor Daron Acemoglu—2024 Nobel laureate in Economics—are among the keynote speakers.