„We live in a world where the energy sector is strongly influenced by geopolitical conflicts, and the energy security is the sustainable backbone of national security. "Currently, the energy resources market is highly volatile and has low predictability." These were the words of the Executive Director of Bulgartransgaz EAD, Vladimir Malinov, at the XIth edition of the Delphi Economic Forum. During the discussion panels, participants emphasised the key importance of the infrastructure of the Vertical Gas Corridor in ensuring the energy independence both in the region and in Europe.
Malinov emphasised that the current reality clearly shows the need for strategic infrastructure such as the Vertical Corridor, as well as secure access to raw materials. „The works on the Bulgarian territory are actively progressing and the project will be commissioned by the end of the year“, he was unequivocal. According to him, the existing infrastructure is thus being optimally used and new gas pipelines are being built to increase the capacity and improve the interconnectivity between Greece, Bulgaria and Romania. „We have no doubt that we will deliver the project to a high standard and within the deadline“, Malinov added. He noted that liquefied natural gas remains a reliable source, especially from the United States, calling for a stronger engagement from the American partners through long-term contracts, not just spot supplies. „Our markets are small, so our actions must be coordinated to achieve economies of scale and better conditions in the long term“, he further said.
Malinov outlined as well the need of another liquefied gas terminal in Greece. „A decision along these lines should be made by the end of the year to adequately respond to the market demand, especially in the context of the European regulations for a complete ban on Russian gas and the ongoing geopolitical instability“, he added. „It's no longer just about diversification – it's about security“.
In order to guarantee the energy resources Malinov also drew attention to the need to develop oil infrastructure. A project is being developed in the region, designated as a priority for NATO, which envisages the construction of a pipeline for the supply of refined and unrefined petroleum products from Greece to Bulgaria and Romania. „This is also seen as a key element of the overall energy security“, he stated.
Within the forum Vladimir Malinov met the Ambassador of the United States to the Hellenic Republic Kimberly Ann Guilfoyle, the Special Envoy for Global Energy Integration Joshua Volz and the Assistant Secretary of State, Energy Resources (2022 - 2025) Geoffrey R. Pyatt. The topic of the conversation was the key importance of the Vertical Corridor as the only highway from south to north for the transport of American liquefied gas to European consumers. The progress in the construction of the infrastructure was emphasised, as well as the role of the project for the development of the regional gas market.
