Bulgaria, Oman seek to boost energy cooperation

Bulgaria and Oman intend to develop mutual projects in the sectors of natural gas, hydrogen, renewable energy production, storage, and oil.

A memorandum of understanding aimed at promoting bilateral energy relations will be signed within the next two months, Bulgaria’s Ministry of Energy has said.

The signing is agreed during a meeting between Bulgaria’s Minister of Energy, Vladimir Malinov, and Oman’s Minister of Energy and Minerals, Salim Al Aufi.

The document will boost bilateral energy cooperation in oil and gas, hydrogen, renewable energy production, and storage, as well as enable potential Omani investment in Bulgaria, the ministry said.

Malinov said that security and diversification of energy supply is an integral part of Bulgaria’s national security. “One of the main goals facing our country is securing supplies of liquefied natural gas (LNG) in the long term,“ Malinov said during the meeting.

The ministers discussed the possibility of LNG shipments to Bulgaria

He noted that after October 1, the LNG terminal near Alexandroupolis, Greece, where Bulgaria is one of the shareholders, would start commercial operations. Malinov and Al Aufi also discussed the possibility of LNG shipments to Bulgaria to provide part of the necessary quantities for the upcoming winter.

“Our country continues to pursue the target of reaching net zero emissions by 2050. Nevertheless, that goal must not impede the competitiveness of the Bulgarian economy,” Malinov stressed.

Al Aufi expressed interest in Bulgaria’s experience in the operation of pumped storage hydropower plants, which enable the storing of energy from renewable sources.

Bulgaria can be a gateway to Europe for hydrogen producers and traders

The two ministers also talked about potential cooperation in the field of hydrogen as one of the clean energy sources. “Bulgaria can be a gateway for producers and traders of hydrogen that can be used in Europe,” Malinov said.

According to the Bulgarian minister, the country has already developed, together with Greece, a project to build an interconnector for hydrogen. The planned interconnector has been granted the status of a Project of Common Interest to the European Union.

Romania is interested in joining the project, Malinov added.

The two ministers agreed to anchor the topics discussed in the drafted memorandum, which will serve as a basis for developing bilateral relations between the two countries.