Speaking at the 11th Delphi Economic Forum in Greece, Deputy Energy Minister Teodora Georgieva stated that the European Union must establish a formal support mechanism if it intends to prioritize energy security. She noted that historical crises, such as the one following the war in Ukraine, and current tensions involving Iran underscore the ongoing necessity for unified European solutions and leadership. Georgieva emphasized that all nations must cooperate to resolve complex energy challenges.
She highlighted Bulgaria’s strategic efforts in the sector, citing a 25-year natural gas agreement with Azerbaijan. Furthermore, she detailed how Bulgaria activated reverse flow through the Trans-Balkan gas pipeline following the commissioning of the Greece-Bulgaria Interconnector, an action critical for supplying Ukraine. To strengthen its regional position, Bulgaria is developing the “Vertical Gas Corridor,” which facilitates the transport of liquefied natural gas from Greece to Ukraine.
In line with this, a joint letter is being prepared by participating ministers to call for enhanced European support and greater competitiveness for this vital route. Addressing the broader energy mix, the minister stressed the continued importance of natural gas, cautioning against an over-reliance solely on renewable sources in the immediate future. She advocated for long-term planning that includes the development of nuclear energy.
Overall, Georgieva urged that establishing robust support mechanisms for strategic energy infrastructure is crucial for securing the continent’s energy future.
Topics: #energy #minister #delphi
A common EU energy support mechanism seems like a necessary structural improvement following recent global volatility.