"Just a few years ago, the region of South-Eastern Europe was dependent on a specific route and supplier. Today, the situation is radically different: we have access to liquefied natural gas (LNG) terminals and developed gas interconnectivity, we increase storage capacity and natural gas flows from south to north. Energy security does not stop at a country's borders. It represents an opportunity for nations to collaborate and build joint solutions. That is precisely why we support the declaration signed today—it signals that businesses, industry associations and institutions can unite their efforts around shared goals." This was stated by Kiril Ravnachki, Executive Director of Bulgartransgaz EAD, during his participation in the forum Energy Alliance in CEE - Central and Eastern Europe – Together for a Competitive and Secure Energy Future, held today in Sofia. The declaration signed focuses on the need of coordinated actions to guarantee energy security, boost industrial competitiveness and ensure affordable, sustainable prices for consumers in the region.
As an example of successful regional cooperation, Ravnachki pointed out the development of the Vertical Gas Corridor, which involves 11 gas transmission system operators from nine countries. "Bulgartransgaz was one of the pioneers and initiators of the Vertical Gas Corridor. First of all, we succeeded in making the most of the existing infrastructure, and subsequently focused our efforts on increasing capacity where needed. Today, we are no longer speaking merely of a concept, but of tangible results," Ravnachki emphasized. Among the specific results, he indicated the already achieved 40% increase in natural gas transmission capacity from Greece to Bulgaria, while capacity from Bulgaria to Romania is set to increase by nearly 100% by the end of the year.
"Diversification is not an end in itself. It means more opportunities, greater competition among traders, a more liquid market, and ultimately, better prices for consumers. Through joint efforts, we can achieve a result that transforms our geographical vulnerability into a competitive advantage," Ravnachki stressed. Natural gas storage also plays a vital role in the changing energy landscape. "Bulgartransgaz continues to work on expanding storage capacity at Chiren UGS which will become increasingly important given the rising volumes of liquefied natural gas (LNG) the region receives from the US and other secure sources," Ravnachki underlined. According to him, the facility combines the functions of a flexible market tool and a strategic reserve, and its significance will grow with the increase of LNG supplies.
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