Azerbaijan can supply additional quantities of natural gas to Bulgaria and the region

Azerbaijan can supply additional quantities of natural gas to our country and to the region. This became clear from the conversation between the Minister of Energy Vladimir Malinov and representatives of SOCAR. Minister Malinov is on an official visit to Baku at the invitation of the Azerbaijani side as part of the delegation led by President Rumen Radev.

"Azerbaijan is a key partner of Bulgaria for the implementation of one of the main priorities of the country in the field of energy - the diversification of energy sources", pointed out Minister Malinov. According to him, supplies from Baku make a significant contribution to ensuring security and competition in the natural gas market. "Thanks to the excellently developed gas transmission infrastructure in the country, which we continue to expand, we can accept additional supplies that will increase energy security not only in Bulgaria, but also in the entire region of Southeastern Europe," said Malinov.

The upcoming competition for the search and exploration of oil and natural gas in Block 1-26 "Khan Tervel" in the Black Sea was among the main topics of Minister Malinov's conversation with the Minister of Economy of Azerbaijan Mikail Jabbarov. Vladimir Malinov informed his colleague about the government's intention to open a new tender procedure in response to the challenges related to energy security. "The expansion of exploration activities in the Black Sea will make a serious contribution to guaranteeing our energy independence," said Malinov. Minister Jabbarov informed that Azerbaijan has recently started commercial extraction of natural gas from the Absheron field in the Caspian Sea and the country is interested in continuing exploration in future similar projects.

Minister Malinov discussed with his Azerbaijani colleague Parviz Shahbazov the development of the project to build an underwater electric cable in the Black Sea as part of the energy agreements between the EU and Azerbaijan. The project is based on the aspiration to strengthen national and regional energy security and connectivity in the Black Sea basin, diversification of supply sources, use of the potential for energy production from renewable sources in the Caspian region and increase the share of energy from renewable sources in the national energy mix. According to Malinov, such an initiative provides an excellent opportunity for Bulgaria and South-Eastern Europe to take advantage of the expanded trade capacities, which contribute to strengthening energy security, development of the renewable energy sector and increasing transit opportunities.

"The strengthening of national and regional energy security, the diversification of supply sources, the use of the potential for energy production from renewable sources are only part of the prospective spheres of cooperation between Bulgaria and Azerbaijan," Minister Malinov said during the opening of a business forum between the two countries, in which representatives of the leading employer organizations and companies from various sectors of the Bulgarian economy participated. According to him, cooperation in these areas would not be successful if it is not actively supported by initiatives from the business side.

Within the framework of the visit to Baku, Minister Malinov and the Deputy Minister of Digital Development and Transport of Azerbaijan Aydin Karimov signed a Memorandum of Understanding between the Ministry of Innovation and Growth and the Ministry of Digital Development and Transport on cooperation in the field of technological innovation. The document provides a basis for deepening cooperation in the field of green transition, microelectronics, space technologies, education, as well as the development of entrepreneurial ecosystems.