"To achieve security in the energy mix, Europe is stimulating the construction of new liquefied natural gas terminals. The available regasification capacity in the region of South East Europe of more than 35 bcm per year together with the planned new terminals and the increase in flows from the Caspian region will lead to further growth in the flows from south to north“. These were the words of the Executive Director of Bulgartransgaz EAD, Vladimir Malinov, during his second participation in the Southeast Europe & East Med Forum. The fifth edition of the high level conference was held in the capital of the United States of America – Washington DC. The main organiser of the event is Delphi Economic Forum.
"The liquefied natural gas has revolutionized the sector in the 21st century and will guarantee secure, reliable and affordable energy supplies for Europe in the long term. Bulgartransgaz EAD will consider all possibilities of equity participation in a new regasification terminal in Greece. Such an investment will be fully in synergy with the projects under the Vertical Corridor initiative and will be of key importance for the entire region," Malinov emphasized during the conference.
The main topic of the discussion panel "Building Europe’s new regional energy and connectivity infrastructure" was the realization of the Vertical Gas Corridor. "The initiative is of strategic importance in providing a technical possibility for the bi-directional transport of additional volumes of natural gas from reliable sources such as the USA, Egypt and others," Malinov emphasized. „In addition to its well-developed infrastructure, Bulgartransgaz proposed projects to increase the transmission capacity between Greece and Bulgaria and Bulgaria and Romania. The implementation of the two projects will increase the energy security, improve the conditions for the diversification of the supply, boost the competition and contribute to the full gas markets integration of the countries in the region," he added. Partial grant funding will be sought to finance part of the value of the two projects.
In the margins of the conference, Malinov held a meeting with the US Ambassador to the Hellenic Republic, H.E. George Tsunis. The emphasis of the discussion was the upcoming commissioning of the liquefied gas terminal near Alexandroupolis, where the Bulgarian gas transmission operator is a co-shareholder with 20%. „The development of the LNG market is among the main factors to ensure the energy security in the region. That is why Bulgartransgaz's potential participation in a second regasification terminal in Greece will improve the energy security in the region," Malinov emphasized during the conversation. Ambassador Tsunis noted the leading role of Bulgartransgaz in the implementation of the Vertical Corridor initiative through which after the inclusion of Ukraine, Moldova and Slovakia the countries of Eastern Europe will gain secure access to alternative sources of natural gas.
