In the context of the current energy situation in the world, which is rapidly deteriorating due to the war in Ukraine, Europe's attempts to reduce dependence on Russian gas and, as a result, rising prices for this energy resource, meetings and discussions at the 27th Baku Energy Forum will be of particular importance.
One of the shocking facts was the statement of the Russian monopoly Gazprom about the termination of gas supplies to Bulgaria, which is 90% dependent on the Russian energy resource.
Report presents an interview with Bulgarian Energy Minister Alexander Nikolov, who will take part in the Baku forum.
What's the importance of Azerbaijan as an energy partner, considering the current situation in the world?
Azerbaijan is a strategic economic partner of Bulgaria. There is good economic cooperation between our countries and the energy sector plays a key role in bilateral relations. Azerbaijan has a major role as a source of diversifying natural gas supplies and increasing energy security not only in Bulgaria, but also on the European continent as a whole.
European countries have been receiving natural gas from Azerbaijan and that proves the predictability, transparency and credibility of the country as a trading partner for European countries, including Bulgaria.
The agreement between our two countries on the supply of natural gas was signed in 2013 and the contracted duration of deliveries is 25 years. The fact that we have such a long-term cooperation is indicative of Azerbaijan's commitment to solving European priorities relating to energy diversification and ensuring energy security.
Can we expect any talks about the increase of gas supply from Azerbaijan anytime soon?
The current situation of disrupted gas supplies by our main supplier “Gazprom” has underlined the exceptional need for diversification. In order to guarantee its energy security, Bulgaria is deeply interested in increasing gas supplies from Azerbaijan and other natural gas sources as well. In recent weeks, the Bulgarian side has actively discussed with current and potential partners this topic and we are confident that talks will have positive outcome. These discussions give us ground to believe that diversified gas supplies for our country are not a mirage, but a real priority for which Azerbaijan plays one of the leading roles.
If not Azerbaijan, or if in addition to Azerbaijan, which countries do you also consider to increase the import of gas from?
The other possible options for the supply of natural gas to Bulgaria include the use of liquefied natural gas terminals. In the medium term, our shareholding in the LNG terminal project near Alexandroupolis, Greece, will also provide us with the opportunity to supply from different destinations such as the Eastern Mediterranean, Israel, the USA and others.
Meanwhile, we are aware that optimizing the existing gas infrastructure is an important factor in increasing security of supply in the region and we are working actively to address this issue.
In order to enhance the energy security of the country and the region, Bulgaria continues its efforts to complete the interconnector Greece-Bulgaria (IGB) so as to start the commercial operation of the pipeline this year. This is a key condition for the security of gas supply throughout the entire region of Southeast Europe.
What will you discuss at the Baku Energy Forum, in which you will take part?
I am pleased to have the opportunity to participate in the Energy Week in Baku, which will bring together several sectoral events - the 27th International Oil and Gas Exhibition in the Caspian Sea, the 10th International Electricity and Renewable Energy Exhibition in the Caspian Sea and the 27th Baku Energy Forum.
Azerbaijan is a strategic partner of Bulgaria in the energy sphere and we are confident that this partnership has a key role to play in delivering our priorities relating to energy diversification and security of energy supply. These priorities are particularly important in the context of the war in Ukraine and the suspension of Russian gas supplies to Bulgaria by Gazprom.
The intensive work of the Azerbaijan Government for energy security is materialized in projects already under implementation, which explore the possibility of generating electricity from wind turbines in the Caspian Sea. The transmission of electricity through the bottom of the Black Sea is an opportunity from which a number of European countries could benefit. These are all potential issues that have the possibility to deepen and expand the cooperation between our countries.
Bulgaria follows an energy policy aligned with the main objectives of the European Union's energy policy for security, competitiveness and resource-efficient and competitive low-carbon economy by 2050. These topics will be in the focus of the energy week in Baku. By presenting the Bulgarian position and experience, I would be glad to contribute to fruitful discussions and talks on constructive opportunities and solutions.
Which questions/talks will have the main importance for you in this forum?
During the Energy Week in Baku, we will be able to discuss with our partners the security of oil and gas supply, the future of electricity systems and the development of RES. These are crucial issues for achieving transparent, market-based and competitive development of the energy sector in the region for the benefit of all consumers.
In the context of the crises that the European continent is experiencing, the COVID-19 pandemic, the subsequent spike in energy prices and the war in Ukraine, the forum in Baku comes just in time as a platform for discussing the challenges of overcoming these crises.