During her participation in the 11th Delphi Economic Forum in Greece, Deputy Energy Minister Teodora Georgieva asserted that if the European Union prioritizes energy security, it must establish robust support mechanisms. She noted that geopolitical crises, such as the one stemming from the war in Ukraine, underscore the necessity for enhanced international cooperation. Georgieva stated that all nations must collaborate to resolve these complex challenges.
She highlighted the strategic importance of infrastructure, citing Bulgaria’s recent 25-year agreement with Azerbaijan to secure reliable natural gas supplies. Furthermore, she detailed Bulgaria’s role in regional energy supply, noting the activation of reverse flow through the Trans-Balkan gas pipeline for Ukraine following the commissioning of the Greece-Bulgaria Interconnector. Bulgaria’s connectivity through the Southern Gas Corridor and its development of the Vertical Gas Corridor strengthen its position as a key regional energy factor, facilitating LNG transport from Greece to Ukraine.
In response to the growing need for stability, Georgieva emphasized that the EU must provide support for such strategic infrastructure projects. Ministers involved in the Vertical Corridor are reportedly preparing a joint letter advocating for greater European support and competitiveness for the route. While stressing the vital role of natural gas in the current energy mix, she cautioned against sole reliance on renewables, suggesting that hydrogen development should occur later, allowing the market to dictate its timing.
Ultimately, she stressed the need for long-term planning that includes the development of nuclear energy sources.
Topics: #energy #minister #delphi
Establishing common support mechanisms appears essential if the EU aims to secure its energy future.
What specific support mechanisms does the Energy Minister propose for EU energy security?