Popescu: Solidarity Ring - indicator of good cooperation

The Solidarity Ring initiative is an indicator of good and close cooperation between the participants of the project, Romanian Minister of Energy Virgil-Daniel Popescu said at the signing ceremony of the Memorandum of Understanding for encouraging cooperation between Bulgartransgaz (Bulgaria), Transgaz (Romania), FGSZ (Hungary), Eustream (Slovakia) and the State Oil Company of the Azerbaijan Republic (SOCAR).

He said the world has today faced a serious crisis of energy supplies and great risks in energy security, which is why this cooperation is especially important.

The memorandum outlines the directions for cooperation on supplies of additional volumes of gas from Azerbaijan to Europe via already modernized Solidarity Ring.

The Solidarity Ring initiative (STRING) was suggested by Bulgaria and supported by the European Commission to increase the safety of natural gas supplies to the European Union, Central and South-Eastern Europe.