site.btaEnergy Minister Traikov in Washington: Bulgaria Could Play Leading Role in Supplying US Liquefied Gas Regionally

Caretaker Minister of Energy Traicho Traikov said that Bulgaria has a real opportunity to become a leading regional gas distribution and transit centre, connecting the markets of Southeastern, Eastern and Central Europe. He made this statement at the Transatlantic Energy Security Summit, which is taking place in Washington, D.C. on February 24-25, the Ministry of Energy announced in a press release on Tuesday.

During the forum, energy ministers from 12 European countries and the United States signed a Joint Statement on Enhancing Security of Natural Gas Supply for Central and Eastern Europe. Signatories to the statement include Bulgaria, Greece, Poland, Romania, Hungary, Slovakia, Ukraine and the United States.

According to the Energy Ministry, the document places a clear emphasis on natural gas supplies from reliable and diverse sources, more competitive and predictable raw material prices, the elimination of Russian supplies from the community's energy balance, as well as a closer energy partnership between Europe and the United States. 

The joint statement envisages improving the efficiency of the natural gas market through the full use and expansion of the existing infrastructure, removing non-market barriers to competitive pricing, including regulations that hinder gas imports. A review of projects for increasing cross-border capacities and the construction of new gas infrastructure was carried out, with specific parameters, implementation deadlines and financing options, which will ensure long-term stability of natural gas trade in the region.

Traikov, quoted in the announcement, said during the forum that this places Bulgaria at the centre of efforts for diversification and greater energy security in the region. According to him, Bulgaria can play a key role in the transmission of liquefied natural gas, including supplies from the United States to Ukraine and the countries of Central and Eastern Europe, which will diversify supplies and open up new opportunities for additional investments in the national gas transmission network.

The signed joint statement also provides for regular consultations between the countries, coordination between gas operators and regulators, and joint actions to build a more transparent and functioning gas market, the Ministry of Energy added.