The Prime Minister spoke about the agreements that change the energy map of South-Eastern Europe Kyriakos Mitsotakis in his joint statements with Bulgarian President Ruben Radev following the signing of two memorandums with the neighboring country.

These memorandums also include an investigation into the creation of the Alexandroupolis-Burgas pipeline. According to the Prime Minister, these agreements will make the two countries energy suppliers in the European Union and will contribute to Europe’s energy security.

Mr. Mitsotakis referred to the first memorandum signed between the ministries of energy and concerning the area security of supply and storage of natural gas. The Prime Minister said that such a development of events is timely due to the geopolitical situation.

“Russian revisionism stumbles over the valiant defense of the Ukrainian people, but causes economic damage by turning energy into a means of state blackmail. Bulgarians are well aware of this, because last year Russia cut off natural gas to a neighboring country,” he said.

The prime minister added that the answer is to get rid of Russian fuel as soon as possible, referring to the signing of a memorandum on the security of storage and supply of natural gas.

At the same time, he stressed that the energy companies of the two countries can be served by Siren facilities in Bulgaria and Revitus, noting that these are critical infrastructures that will ensure energy security.

“This is a bilateral agreement, which, however, has a European scale, as it turns our countries into a crossroads for the movement of gas throughout Europe,” the prime minister said. He added that the agreement in question follows another agreement that our country has signed with Italy, thus forming an alternative network of strategic importance.

Alexandroupolis-Burgas pipeline

The second memorandum of cooperation concerns oil and “its release from Russian sources,” Mr. Mitsotakis said. In particular, we are talking about the study of the possibility of building a new pipeline that will connect Alexandroupolis with Burgas (and not vice versa, as it was going to be done with a previous similar project), which will supply Bulgaria with energy resources.

“The new pipeline is being revived in light of the new conditions as the Alexandroupolis-Burgas pipeline rather than the Burgas-Alexandroupolis pipeline, offering new alternative sources of supply. Not because it replaces tankers that have to cross the Bosphorus, but because it will add to other energy facilities such as IGB and FSRU in Alexandroupoli. The ultimate goal is for natural gas to even reach Ukraine,” Mr. Mitsotakis said.

Finally, he stressed that the floating gasification plant at Alexandroupolis is being developed.

He also mentioned other similar facilities “so that we can export to neighboring countries. In our region, a new dense network of energy roads is being formed in the Balkans, in Europe and beyond. Greece and Bulgaria have a decisive role to play in Europe’s energy security, they can offer a wider range of services to the EU,” said Mr. Mitsotakis and concluded: “We can become energy security providers for the wider region.”

Bulgarian President

For his part, Mr. Radeff, emphasizing that the traditional cooperation between the two countries has been further strengthened thanks to two memorandums, thanked the Prime Minister of Greece for access to Revitus.

“I remind you what important things we have implemented in our relations and cooperation over the past year,” he said and referred to the completion of the connection of the gas pipeline, as well as an increase in electricity exports to Greece.

“All this goes beyond the cross-border agreement. Greece and Bulgaria have proven to be pillars of stability in the region,” said the President of Bulgaria.

He added: “This cooperation is changing the map of Southeast Europe, opening up new perspectives for the two countries. The signing of the two memorandums is a continuation of the efforts of Greece and Bulgaria in the same direction.”

Two memorandums

The first memorandum provides for partnership between the ministries of energy of the two countries in the field of security and gas supply. Accordingly, Greek companies will be able to store gas at Siren facilities in Bulgaria, and Bulgarian companies will be able to use Revitoussa accordingly. “Thus, both countries have access to critical infrastructure for their energy security,” the prime minister said.

The second memorandum concerns oil. “Athens and Sofia are committed to exploring the possibility of building a new pipeline that will connect the two hub ports of Alexandroupolis and Burgas, as well as the two seas, the Aegean and the Black Sea,” Mr. Mitsotakis said, adding that it is “a plan that is being revived in light of the new conditions not like the Burgas-Alexandroupolis pipeline, but like the Alexandroupolis-Burgas pipeline, offering Bulgaria alternative sources of supply.”

Source: RES-IPE