Vladimir Malinov: Bulgartransgaz projects along the Vertical Corridor will guarantee the energy security of Bulgaria and Eastern Europe
"Bulgartransgaz" EAD has developed specific projects to increase capacities and ensure the possibility of transferring additional quantities of natural gas from the south to the north. With the maximum use of the available and the construction of the necessary additional infrastructure, the Vertical Gas Corridor will guarantee energy security both for Bulgaria and for the wider region of Eastern Europe". This was said by the executive director of Bulgartransgaz EAD, Vladimir Malinov, during his meeting with the Assistant Secretary of State for Energy Resources at the US State Department, Jeffrey Payatt.
The two discussed in Washington the importance of the Vertical Corridor initiative after the renewal of the Memorandum in January this year, in which the gas transmission operators of Greece, Bulgaria, Romania, Hungary, Slovakia, Ukraine and Moldova participate. "In recent years, a clear trend of growth in demand for liquefied natural gas from reliable sources has emerged. With the realization of the corridor, the needs of the market for the transfer of these additional quantities will be met," added Malinov.
US Assistant Secretary of State for Energy Resources Jeffrey Pyatt expressed unreserved support for the implementation of the Vertical Gas Corridor. According to him, it is necessary to promptly implement and put into operation the new infrastructure projects of "Bulgartransgaz" to increase the capacities in the direction from south to north, which will ensure the transfer of the growing flows of gas from Greece through Bulgaria and Romania with the possibility of reaching Ukraine.
In order to implement the proposed projects in the shortest possible time, preserve the commercial interest in the route and increase the benefits for the end users, "Bulgartransgaz" is looking for opportunities for partially free financing of the necessary investments, which will also bring benefits to the end users.
Geoffrey Payat emphasized the importance of the projects Bulgartransgaz is working on to guarantee energy security in the region, drawing attention to the expansion of the underground gas storage in Chiren. According to Malinov, the project is among the largest in the sector and will contribute to improving energy security in Europe. It is planned that the daily capacities for extraction and injection of gas in the storage will increase to 8-10 million cubic meters per day. During the conversation, Malinov also noted the successful partnership in the implementation of the Chiren expansion project between Bulgartransgaz and the American companies Solar Turbines Europe, Honeywell and Emerson.
The two united around the need for the projects to be completed on time in order to ensure access to additional quantities of natural gas from alternative sources for all consumers.