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

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

Baku is interested in the forthcoming procedure for the prospection and exploration of natural gas in “Han Tervel” Block 1-26

Azerbaijan can supply additional quantities of natural gas to our country and to the region. This became clear from the talks between Energy Minister 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 Bulgaria's key partner in meeting one of our country's main energy priorities, the diversification of energy sources,” Minister Malinov said. According to the Energy Minister, supplies from Baku make a significant contribution to ensuring security and competition in the natural gas market. “Thanks to the highly developed gas transmission infrastructure in the country we are continuing to expand, we can accept additional supplies that will increase energy security not only in Bulgaria but in the whole South-East Europe region,” Malinov underlined.

The upcoming tender for oil and gas prospection and exploration in “Han Tervel” Block 1-26 in the Black Sea was among the main topics of Minister Malinov's talks with the Minister of Economy of Azerbaijan Mikayil Jabbarov. Vladimir Malinov informed the Economy Minister about our Government's intention to launch a new tender procedure in response to energy security challenges. “The expansion of exploration activities in the Black Sea will make a major contribution to ensuring our energy independence,” Malinov highlighted. Minister Jabbarov informed that Azerbaijan had recently started commercial extraction of natural gas from Absheron field in the Caspian Sea and the country has an interest in continuing research into future similar projects.

Minister Malinov discussed with his Azerbaijani counterpart, Minster Parviz Shahbazov, the development of the Black Sea subsea power cable project as part of the energy agreements between the EU and Azerbaijan. The project is based on the drive to strengthen national and regional energy security and connectivity in the Black Sea Basin, diversify sources of supply, exploit the renewable energy potential in the Caspian region and increase the share of renewable energy in the national energy mix. In Malinov's words, such an initiative provides an excellent opportunity for Bulgaria and South-Eastern Europe to benefit from expanded trading capacities, which contribute to strengthening energy security, developing the renewable energy sector and increasing transit opportunities.

“Enhancing national and regional energy security, diversifying sources of supply, exploiting renewable energy potential are only part of the promising areas of cooperation between Bulgaria and Azerbaijan,” Minister Malinov said during the opening of the Business Forum between the two countries,  involving representatives of leading employers' organisations and companies from different sectors of the Bulgarian economy. According to the Energy Minister, cooperation in these areas would not be successful unless it was actively supported by business initiatives.

During the visit to Baku, Minister Malinov and Aydin Karimov, Deputy Minister of Digital Development and Transport of Azerbaijan signed a Memorandum of Understanding on Cooperation in the Innovative Technologies between the Ministry of Innovation and Growth and the Ministry of Digital Development and Transport. The document provides a basis for deeper cooperation on green transition, microelectronics, space technologies, education, and the development of entrepreneurial ecosystems.

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