site.btaEnergy Minister Stankov Participates in Energy Security Summit in New York

Energy Minister Zhecho Stankov took part in an energy security summit of leaders from Central and Eastern Europe, his Ministry said on Wednesday. The event, held within the framework of the 80th session of the UN General Assembly in New York, was organized by the Atlantic Council.

The forum brought together Bulgarian Energy Minister Zhecho Stankov, U.S. Secretary of Energy Chris Wright, Greek Energy Minister Stavros Papastavrou, Estonian Minister of Foreign Affairs Margus Tsahkna, Lithianian Minister of Foreign Affairs Kestutis Budrys, Romanian Energy Minister Bogdan-Gruia Ivan, and Czech Deputy Minister of foreign Affairs Jiri Kozak.

“The energy map of the region is changing before our eyes. Modern challenges put the focus on discussions about green grids, energy justice, and climate neutrality. This requires a true transformation with the understanding that energy security is built both on infrastructure and on trust and strategic partnership to guarantee supplies and affordable energy for people and businesses,” Minister Stankov stated.

He emphasized Bulgaria’s key role in diversifying sources and supply routes given its geographical location. In this regard, the energy minister highlighted Bulgaria’s active participation in regional initiatives of pan-European significance and the coordinated work with neighboring countries to upgrade the capacity of intersystem connections as a tool for sustainable development and regional stability.

Minister Stankov underscored work on one of the strategic projects for all of Europe — the construction of the Vertical Gas Corridor, which aims to guarantee the security and continuity of energy supplies by providing access to diversified sources of natural gas. The project, supported by the governments of Greece, Bulgaria, Romania, Hungary, Slovakia, Moldova, and Ukraine, is entering a decisive stage of implementation on Bulgarian territory, he highlighted, recalling that Bulgaria was the first to initiate concrete actions on this key energy artery.

Minister Stankov also presented Bulgaria’s energy priorities, whose realization will position the country as a balancer in Southeast Europe: new energy corridors; investments in green energy and balancing capacities, including new pumped-storage hydroelectric plants  and battery systems; a long-term vision for nuclear energy through the construction of units 7 and 8 at the Kozloduy N-plant; and regional cooperation as a foundation for reducing vulnerabilities and forming a sustainable energy market.

The summit in New York also served as a platform for a series of discussions during which Minister Stankov explored opportunities for investment and cooperation in infrastructure, new technologies, and nuclear energy. The Bulgarian energy minister held bilateral talks with U.S. Secretary of Energy Chris Wright, the Director-General of DG Energy at the European Commission, Ditte Juul Jorgensen, as well as with his regional counterparts.

Among the key topics was an upcoming joint inspection in October of the construction activities on Lot 2 (Rupcha-Vetrino) of the Vertical Gas Corridor, just months after the project’s launch.