Bulgaria and Oman will sign a Memorandum of Energy Cooperation

Bulgaria and Oman will sign within the next two months a Memorandum to promote bilateral relations in the field of energy. This was agreed at a meeting between the Minister of Energy of the Republic of Bulgaria Vladimir Malinov and the Minister of Energy and Minerals of the Sultanate of Oman Eng. Salim Al Aufi. The document will allow deepening of bilateral energy cooperation in the fields of oil and natural gas, hydrogen, production and storage of energy from renewable sources, as well as potential investments by Oman in our country.

"Guaranteeing the security and diversification of energy supplies is an invariable part of Bulgaria's national security. In this regard, one of the leading goals for our country is the provision of supplies of liquefied natural gas in the long term," Minister Malinov emphasized to his guest. He recalled that after October 1 this year, the liquefied natural gas terminal near Alexandroupolis, Greece, in which our country is a co-shareholder, will be put into commercial operation. Ministers Malinov and Salim Al Aufi discussed the possibility of supplying liquefied natural gas to Bulgaria, which would ensure part of the necessary quantities for the upcoming winter season.

"Our country continues to pursue the set goal of achieving net zero emissions by 2050, but this should not negatively affect the competitiveness of the Bulgarian economy," noted Minister Malinov. Minister Salim Al Aufi showed interest in Bulgaria's experience in operating pumped-storage hydropower plants as one of the options for storing energy produced from renewable sources.

The energy ministers of Bulgaria and Oman also discussed potential cooperation in the field of hydrogen as one of the clean sources of energy. "Bulgaria can be a gateway for producers and traders of hydrogen to be sold in Europe," noted Minister Malinov. "We have already developed together with Greece a project for the construction of an intersystem connection for hydrogen, which also received the status of a project of common interest for the EU. Romania is also interested in joining the project," added Malinov. The two ministers united around the discussed topics to lay down in the prepared memorandum, which will serve as a basis for the development of bilateral relations between the countries.