Sofia, the capital of Bulgaria, hosted the signing of a memorandum of understanding on the development of cooperation between the gas transmission system operators of Bulgaria (Bulgartransgaz), Romania (Transgaz), Hungary (FGSZ), Slovakia (Eustream) and the State Oil Company of Azerbaijan (SOCAR), Report informs.
The signing took place with the participation of Presidents of Azerbaijan Ilham Aliyev and Bulgaria Rumen Radev.
The document was signed by the Ministers of Energy of Azerbaijan, Bulgaria and Romania - Parviz Shahbazov, Rozen Hristov and Virgil-Daniel Popescu, as well as the Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto and the Minister of Economy of Slovakia Karel Hirman.
The memorandum defines the areas of cooperation for the supply of additional volumes of gas from Azerbaijan to Europe through the modernized "Ring of Solidarity".
The Solidarity Ring (STRING) initiative was proposed by Bulgaria and supported by the European Commission to improve the security of natural gas supplies to the European Union, Central and South-Eastern Europe.